Page 9 - Excise Duty

Why states are unwilling to take lessons from Delhi liquor excise saga

The controversy in Delhi reflects the enduring importance of this revenue source for state exchequers

Diesel export falls 11%, petrol 4.5% in July on levy of windfall profit tax

India's diesel exports fell by 11 per cent in July and overseas shipment of petrol dropped by 4.5 per cent after the government slapped a windfall profit tax on such sales, official data showed. Diesel exports dropped to 2.18 million tonnes in July from 2.45 million tonnes a month back, data from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) showed. Similarly, petrol exports fell to 1.1 million tonnes from 1.16 million tonnes in June. India first imposed windfall profit taxes on July 1, joining a growing number of nations that taxes super normal profits of energy companies. Export duties of Rs 6 per litre were levied on petrol and aviation turbine fuel and Rs 13 a litre on diesel. The duties were partially adjusted in three rounds on July 20, August 2 and August 19, and have now been removed for petrol, with Rs 7 per litre and Rs 2 per litre remaining for diesel and ATF, respectively. The export levies helped ease the strain on domestic fuel supply. The levies wer

Providing HSN code responsibility of bidder, not tendering authority: SC

Apex court says it is the bidders' responsibility to find out the relevant HSN code

AAP ignored excise policy violations, expert committee recommendations: BJP

The BJP on Tuesday stepped up attack on the AAP, claiming its government in Delhi ignored the violations of the excise policy and recommendations of an expert committee. According to the Delhi Excise Policy, producers, retailers and distributors of liquor cannot be the same. Also, there cannot be common directors or shareholders, BJP MP Sudhanshu Trivedi said. On October 25, 2021, the Delhi excise department had brought some cases of common producers, retailers and distributors to the notice of the government, but it did not act on it, he claimed. BJP MP Parvesh Sahib Singh Verma said an expert committee had suggested against promotions to push liquor sales but the Delhi govt started giving a carton free on every carton sold. The committee had suggested to follow the Karnataka model wherein the government is responsible for wholesale business. The panel said no individual can be given more than one license. It had also recommended against opening liquor vends in non-conforming are

SC dismissal of review petition on HSN codes setback for industry

Auto component industry may have to pay up to 15% basic Customs duty and 28% GST

Kejriwal kingpin of excise policy scam, handcuffs getting close to him: BJP

The BJP on Sunday alleged Delhi Chief Minister Arvind Kejriwal is the "kingpin" of the excise policy "scam" and said handcuffs are getting close to him as nodes of corruption are being unravelled. Addressing a press conference here, BJP national spokesperson Gaurav Bhatia alleged Kejriwal was busy indulging in corruption when Covid-affected people needed his help. Delhi BJP president Adesh Gupta, who also addressed the press conference, said, "Delhi's excise policy has proved to be a corrupt one. Arvind Kejriwal is the kingpin of this entire scam." Bhatia said when it was time to help Covid-affected people, Kejriwal was busy indulging in corruption by signing the excise policy. "Roots of the excise policy 'scam' lead to the doorstep of corrupt Kejriwal. No one is above law and no corrupt person will be spared," he said. On the AAP's claim that the 2024 Lok Sabha elections will be a direct fight between Kejriwal and Prime Minister Narendra Modi, the BJP spokesperson said everyone k

CBI issues summons to some accused in Delhi excise policy 'corruption' case

The CBI has summoned for questioning on Saturday several accused in the corruption case related to the implementation of the Delhi Excise Policy, officials said. The agency is examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia, the officials said on Saturday. They said once the process of examining the documents and electronic gadgets as well as the bank transactions is completed, summonses will be issued to other accused. The CBI FIR, which was registered before a special court on Wednesday, has also been shared with the Enforcement Directorate, a financial probe agency, which will look into the allegations of money laundering. The agency on Friday carried out searches at 31 places which included premises related to Sisodia as well as some bureaucrats and businessmen. The AAP condemned the raids with Delhi Chief Minister Arvind Kejriwal claiming the agency has been "asked from above" to harass its leader

CBI raids Manish Sisodia's house; 'We welcome them', says CM Kejriwal

Sisodia took to Twitter to announce the raid and said he will cooperate with the probe so that the truth comes out soon

Centre planning to further cut windfall tax on crude, diesel: Report

The government is expected to review the new taxes, imposed on July 1, for the third time soon,

Amid robust tax growth, customs and excise duties decline over 10% in Q1

Receipts from customs and excise duties were down 10.59 per cent at Rs 97,695 crore in Q1 of FY'23

Excise duty on petrol was Rs 9.48/ltr, diesel Rs 3.56 in 2014: Minister

Excise duty on petrol was Rs 9.48 per litre and Rs 3.56 on diesel when BJP came to power in 2014 before it rose to a record Rs 32.98 and Rs 31.83, respectively, in May 2020, Parliament was informed

Fall in Delhi govt's excise revenue 'inexplicable' as sales rise: Report

The excise revenue of the Delhi government in the first quarter of the current fiscal year remained flat compared to 2019-20 despite a steep rise in whiskey and wine sales

Amid CBI probe, Delhi excise policy may be extended by two months

The ongoing Delhi Excise Policy, which has been shrouded with much controversy, is likely to be extended by two more months as it expires on July 31.

Govt issues corrigendum to withdraw excise on ATF for international flights

Indian Oil had begun levying 11% duty following a govt notification; ATF accounts for 40% of an airline's operating expenses

PSUs face further investment apathy; privatisation may struggle: Analysts

The bulk of the earnings reduction over the past two months for the Nifty-50 index, according to KIE, has come from the government's decision to levy new taxes

Our expansion plans will take a hit due to ATF duty, say airlines

ATF accounts for around 40 per cent of an airline's operating expenses

Fuel exports rise in FY23; refiners stay healthy despite addl excise

Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices

Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts

The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue lost when it cut excise duty on fuel, industry sources said

Petrol export duty: Will RIL shares fall more after Friday's 9% slide?

The bias for Reliance remains positive, with strong support seen at the 50-WMA, below which the next significant support is at Rs 2,350.

How Delhi's new excise policy sinks spirits of private liquor retailers

The new excise policy of the state government had allowed the entry of private liquor retailers for the first time