Page 14 - Excise Duty

Budget 2019: Higher excise, cess raise fuel prices by Rs 2 per litre

Crude prices have fallen from around $71.34 a barrel in 2018 to $66 a barrel this year

Every Re 1 cut in excise duty on fuel to cost govt Rs 130 bn, says Moody's

Rating agency Moody's has sounded a note of caution that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure. Pressure has been mounting on the government to cut excise duty on petrol and diesel to bring down their prices which have gone up following a spike in crude prices in the international market. According to government estimates, every rupee cut in excise duty on petrol and diesel will result in a revenue loss of about Rs 13,000 crore. Observing that fiscal consolidation would be closely watched for assigning the sovereign rating, Moody's said India's biggest challenge is its fiscal strength which is relatively low as compared to 'Baa' rated peers. "Any reduction in revenues, including through the excise duty on petroleum and diesel, would most likely need to be offset by a comparable reduction in expenditure in order to achieve fiscal consolidation," Moody's Investors Service VP &

Excise duty on fuel may be cut by Rs 1-1.5 to ease retail prices of petrol

The government is better placed to consider a cut in the new fiscal year. A reduction now will not impact the fiscal deficit numbers for 2017-18, expected to be 3.4%

Government doubles excise duty evasion limit to warrant arrest

Arrest and prosecution of a person can be resorted only if the evasion is equal to or more than Rs 2 cr

States await big share from excise on oil products

Excise duty on oil products contributed as much as 63 per cent of the total excise mop-up in the last FY

Garment retailers shift from MRP to 'fixed price' regime

Move aimed at avoiding paying excise duty for garments priced at Rs 1,000 and above

Excise duty impact: Garment retailers shift to "fixed price" regime from MRP

Discounts on garments may be things of the past, once existing stocks exhaust

FM Jaitley rules out rollback of excise duty on jewellery

Ever since the levy of 1% cess on non-silver jewellery was announced in the Budget, there have been protests by jewellers and demands for rollback by MPs

Gold jewellery manufacturing industry to undergo structural changes

As jewelers returns to normalcy after a prolonged strike of over 40 days excise duty on jewellery is a certainty.

Gold value chain activity halted with new duties, strike

There is a lack of demand for refined gold after the strike

Excise on jewellery will crush small businessmen: Rahul Gandhi

The Congress vice president said that the idea of 'Make in India' is to throttle small businesses through excise

Jewellers continue stir over excise levy

Govt imposes Section 144 in Zaveri Bazaar to stop traders' rally

Jewellers to continue strike, despite assurance of no inspector raj

The Budget proposed a nominal excise duty of 1% without input tax credit and 12.5% with input tax credit on articles of jewellery