Revised excise schedules and Health Security se National Security Cess Bill, 2025 could raise classification, valuation, and compliance challenges, say experts
The Central Excise department here has issued property attachment orders in respect of 40 cases with a view to recovering service tax arrears to the tune of over Rs 50 crore.
By: Yash Arya, Haribhakti & Co.
In a U-turn, the Central Excise has reversed its stand on levying service tax on the Comptroller and Auditor General saying it does not come under the business support service ambit.
Central Excise was instrumental in giving strength to the aspirations of an independent India...the much needed monetary support came in the form of excise duties.
Cement may become dearer by Rs 5 per 50 kg bag in view of the Budget proposal today to raise excise duty to 12% from 10% earlier. "The hike in excise duty will push up the sales cost by Rs 5 per bag.
Cement prices are likely to go up after the government's proposed hike in excise duty on the building material from 10% to 12%.
Passengers travelling in all AC classes and first class will have to pay charges in addition to the recent hike in train fares with the General Budget today bringing journeys in them under the ambit of service tax.
India's annual budget on Friday fell short of market hopes for tougher fiscal tightening measures. The government, facing political turmoil, fended off pressure to produce an even more populist plan, yet stopped short of offering meaningful economic reforms that might have cheered investors.