Page 12 - Excise Duty

Excise duty mop-up grows 34% in H1; overall revenue collection down 22%

Overall revenue collection down 22% in Apr-Sept

ITC shares fall 6% amid concerns on stake sale, possible tax hikes

Shares of Axis Bank also fell as much as 5.4 per cent, but recouped most of the losses to end just 0.2 per cent lower

UP, Karnataka, TN hike duty on liquor as buffer for Covid-19 loss

UP govt also raises tax on petrol and diesel

OMC earnings to take 10-27% hit as govt raises duties, bars fuel price hike

Marketing margins to be squeezed by 64%; companies did not pass on the benefits of lower global petroleum prices to consumers

With record excise duty hike on fuel, Modi govt may gain Rs 1.6 trn in FY21

Together with Rs 39,000 crore in annual revenues gained from the March 14 excise duty hike of Rs 3 per litre each on petrol and diesel, the government stands to gain as much as Rs 2 trillion

Petrol, diesel excise hike can add Rs 1.4 trn to govt's coffers: Barclays

Apart from the increase in central government taxes, several states and union territories, including Delhi, Haryana, Assam, Punjab, also have raised the state tax on fuel

OMCs tank as govt raises excise duty on petrol, diesel; HPCL, BPCL dip 10%

The price hike will be absorbed by oil marketing companies against the fall in crude prices.

Centre raises excise duty on petrol by Rs 10 per litre, diesel by Rs 13

No change in retail prices as oil marketing firms to absorb increase

Petrol, diesel get costlier as Delhi govt hikes VAT amid Covid-19 lockdown

Following the revision, the price of petrol in Delhi increased by Rs 1.67 to Rs 71.26 a litre and diesel by Rs 7.10 to Rs 69.29.

Andhra hikes liquor prices twice in the trot as queues expand at stores

25% hike yesterday, another 50% today, both in the form of additional retail excise tax

Minting money: States earned Rs 1.75 trillion from sale of alcohol in FY20

It was their third-largest source of revenue after GST and sales tax or value-added tax

With liquor shops open, UP expects to recoup part of average excise mop-up

The UP government expects to recoup at least part of its average excise mop-up of nearly Rs 100 crore daily till the time the restrictions are removed

DGS has to take a call on waiving detention charges

The CBIC has also instructed field formations to make special efforts to dispose of all pending refund and drawback claims through a "special refund and drawback disposal drive"

Provide list of retail vend of liquor in public sector:Delhi to Excise dept

Delhi government has asked to conform to the criteria prescribed by the Union Ministry of Home Affairs

Govt plans another excise hike on petroleum products to offset revenue loss

No immediate hike, marginal increase likely to be implemented only after lockdown is lifted

Another excise hike for petroleum products on cards to offset revenue loss

No immediate hike, marginal increase likely to be implemented only after lockdown is lifted

Govt likely to face shortfall of Rs 10 trn due to coronavirus: Subhash Garg

Elaborating on the fiscal situation, the former finance secretary said that indirect taxes, GST, excise duty on petroleum products and customs will under-perform

Closures hit alcohol manufacturers; govt faces loss of Rs 700 cr a day

Excise duty on liquor is an important revenue source for states, which are not in a strong position financially at present

Petrol, diesel get costlier as states increase VAT amid coronavirus crisis

Both Kolkata and Mumbai saw an increase of Rs 1.01 each on petrol to Re 1 each on diesel. However, prices in Delhi remained unchanged

Fuel prices see minor changes, check petrol and diesel rates today

The prices of petrol and diesel can increase further as Parliament passed Finance Bill on Monday