In the run up to Budget 2013-14 the finance ministry is considering various areas of taxation and is mulling a cess on import of crude oil. It could be as low as one percent.
In the run up to Budget 2013-14, the finance ministry is considering various areas of taxation and is mulling a cess on import of crude oil. It could be as low as one percent. However, there is no final decision on the quantum yet, reports CNBC-TV18's Aakansha Sethi.
A one percent cess of crude oil will get the government close to Rs 750-800 crore and will only marginally impact the prices of petrol and diesel . Sources in the government told CNBC-TV18 that this Budget is going to focus on economic revival.
In fact the Department of Economic Affairs (DEA) has presented close to a 100 ideas to the finance minister for economic revival across sectors from agriculture, industry to infrastructure and a final decision on this has to be taken.
On the direct tax front one is likely to see a tax on the super rich. Commodities transaction tax (CTT) is also under consideration, but no final decision on hiking indirect tax rates has been taken yet.
ADS BY GOOGLE
video of the day
See choppy mkt till earnings weak, be stock-specific