Page 10 - Excise Duty

States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI

States gained Rs 49,229 crore from VAT revenue on fuel when oil prices were increasing and will forego Rs 15,021 crore now that excise duty on fuel has been cut, SBI Research said in a report

Kerala, Maharashtra, Raj reduce VAT on fuel after Centre cuts excise duty

Maharashtra, Rajasthan, Kerala have decreased VAT on petrol and diesel after Finance Minister Nirmala Sitharaman's call to provide further relief to consumers following a cut in excise duty by Centre

Italy lowers fuel taxes to help tackle surging prices due to Ukraine war

A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8

Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco

A two-judge bench, comprising justice Alok Aradhe and justice S Vishwajith Shetty, basically upheld the earlier order by a single bench of the court in this regard

PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot

Gehlot claimed Centre has earned about Rs 26 trn from excise duty in 8 years which, he said, is the highest amount earned by any dispensation in history of the country by imposing tax on petrol-diesel

Reduce VAT on fuel to control prices in national interest: Modi to states

He said the Centre had urged states to reduce taxes and transfer the benefit to the citizens

Delhi excise dept allows pvt shops to offer up to 25% discount on liquor

The Delhi government's excise department has allowed private shops to offer up to 25 per cent discount on the maximum retail price (MRP) of liquor.

BJP holds 'referendum' in Delhi against AAP govt's new excise policy

The party collected public feedback by placing specially crafted boxes at 1,120 places across 280 civic wards, said Delhi BJP media head Navin Kumar

Delhi govt extends liquor licenses under new policy for two months

In two separate orders, the department stated that the licensees under different categories can pay a pro rata fee for the extended period

Higher nominal GDP may give Centre a leeway to cut duty on petrol, diesel

Former RBI governor C Rangarajan believes it would be 13 per cent, though his projection came before the war

Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc

Business Standard's Arup Roychoudhury and Asit Ranjan Mishra spoke to Revenue Secretary Tarun Bajaj to know about revenue estimates and recent taxes levied on cryptocurrencies. Let's listen in

Oil cos likely to absorb Rs 2 per litre excise duty on unblended petrol

Since there is inconsistency in ethanol blending levels across fuel depots, pricing petrol for consumers with the Rs 2 variation on some days is tricky

IndiGo terms Budget 2022 as growth-oriented, expects duty cut on jet fuel

Budget carrier IndiGo termed the Union Budget 2022-23 as "growth-oriented" while expecting a cut in the excise duty on jet fuel.

Excise Policy 2021 to continue beyond March 31, Delhi govt tells HC

The Delhi government informed the Delhi High Court that its Excise Policy of 2021 will continue beyond March 2022 and there will not be any 'new change' in it for the next financial year

Public health groups, docs urge govt to hike tobacco products' excise duty

In their appeals to the Finance Ministry, they have sought an increase in excise duty on cigarettes, bidis and smokeless tobacco

Govt makes largest-ever payment for slashing oil bond dues

Total interest outgo to top Rs 1.6 trn, against bonds of Rs 1.44 trn since FY10

With Delhi's new excise policy in, 194 set to lose jobs

With the discontinuation of Delhi government liquor vends in wake of the new excise policy, 194 outsourced employees hired through (ICSIL), engaged in liquor business have lost their jobs.

Sustainable fuel taxes

India needs a more transparent tax structure

Fuel pump dealers bleed on sudden excise duty cut on petrol, diesel

Dealers earn a commission of Rs 2.58 a litre on diesel and Rs 3.85 a litre on petrol

Excise duty cut on petrol, diesel could reduce inflation by 30 bps

Petrol's price rise remained elevated even as it moderated to 22.26 per cent in September from 24.01 per cent in the previous month