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  • UP to increase foreign liquor license fee by 20% Jan 22, 2020 11:01 AM IST

    UP to increase foreign liquor license fee by 20%

    Bar codes will be put on all liquor bottles so that consumers can check whether liquor is real or not, Sanjay Bhoosreddy said.

  • Liquor sales boost excise revenue by 10% in Maharashtra despite more dry days Jan 16, 2020 09:30 AM IST

    Liquor sales boost excise revenue by 10% in Maharashtra despite more dry days

    The rise in collections however still failed to bridge the shortfall in annual target, which could amount to Rs 810 crore.

  • Govt gains over Rs 30,000cr under Sabka Vishwas, extends scheme to recover Rs 2.9 lakh crore pending dues Jan 02, 2020 01:27 PM IST

    Govt gains over Rs 30,000cr under Sabka Vishwas, extends scheme to recover Rs 2.9 lakh crore pending dues

    The disputed amount for 1.83 lakh cases was Rs 3.6 lakh crore in September 2019, thus the amount involved in still-unresolved disputes is a staggering Rs 2.9 lakh crore.

  • Excise duty, state VAT cut in offing to cool fuel prices? May 23, 2018 03:32 PM IST

    Excise duty, state VAT cut in offing to cool fuel prices?

    Oil marketing companies can also be asked to slow down the pace of increase in price revisions and absorb some of the cost

  • No immediate plans for excise duty cut on petrol, diesel: Official Apr 23, 2018 02:34 PM IST

    No immediate plans for excise duty cut on petrol, diesel: Official

    Every rupee cut of excise duty on fuel will shave off Rs 13,000 crore of Centre’s revenues annually. Any decision on a duty cut will be a political call

  • LS passes bill to make excise, customs Acts compliant with GST Apr 06, 2017 06:16 PM IST

    LS passes bill to make excise, customs Acts compliant with GST

    The Lok Sabha today passed a bill which will ensure continuance of levy of excise on petroleum products and abolition of cess on some other items following GST rollout from July 1.

  • Hopeful of resolving issues to roll out GST from Apr 1: FM Jan 11, 2017 12:46 PM IST

    Hopeful of resolving issues to roll out GST from Apr 1: FM

    Finance Minister Arun Jaitley today reiterated that the Centre is still aiming to roll out the Goods and Services Tax (GST) regime from April 1 if all pending issues are sorted out.

  • EXCLUSIVE: FM may unveil GST timeline, state compensation corpus on Feb 1 Jan 06, 2017 02:11 PM IST

    EXCLUSIVE: FM may unveil GST timeline, state compensation corpus on Feb 1

    GST council‘s Jan 16 meeting crucial for fixing new roll-out date; budget could contain half-yearly estimates of central indirect taxes to factor in mid-year implementation

  • SC stays HC order on agencies' power to arrest Sep 27, 2016 08:38 PM IST

    SC stays HC order on agencies' power to arrest

    In a relief to agencies dealing with customs, excise and sevice tax evasions, the Supreme Court today stayed the operation of a Delhi High Court order restraining these from arresting the offenders till adjudication on evasion of duty concluded.

  • Indirect tax collection soars 37% in Apr-May Jun 09, 2016 09:28 PM IST

    Indirect tax collection soars 37% in Apr-May

    Indirect tax collections rose by about 37 percent during April-May compared to the same period of the last fiscal

  • Sales growth of 20-25% likely in FY17: Rushil Decor Jun 06, 2016 02:08 PM IST

    Sales growth of 20-25% likely in FY17: Rushil Decor

    Rushil Decor has two new plants coming in Southern India and production will come in within 2-3 years, says MD Krupesh Thakkar.

  • Indirect tax mop up grows 41% to Rs 64,394 cr in April May 09, 2016 09:44 PM IST

    Indirect tax mop up grows 41% to Rs 64,394 cr in April

    Revenue Secretary Hasmukh Adhia said excise duty mop up in April spurt by 70 percent to Rs 28,252 crore as against Rs 16,546 crore in the year-ago month.

  • Jewellers keep up pressure, strike spills into 31st day Apr 01, 2016 03:14 PM IST

    Jewellers keep up pressure, strike spills into 31st day

    Many jewellery houses in cities such as Delhi, Mumbai and Kolkata have been closed since March 2 after Finance Minister Arun Jaitley announced 1 percent excise duty on non-silver jewellery in the Budget on February 29.

  • Hello GST: Impact on paint sector Jan 12, 2016 04:19 PM IST

    Hello GST: Impact on paint sector

    "Currently, the sector is taxed at the normal rate for both excise and VAT and hence the overall duty burden is between 24% and 27%. As against this, if the GST rate for the standard rate of products for paints is 17-19%, there will be clearly an advantage," says Jayraj Sheth, Indirect Tax Partner, EY

  • FinMin ups verge for appeals in service tax, customs cases Dec 17, 2015 08:07 PM IST

    FinMin ups verge for appeals in service tax, customs cases

    The Finance Ministry said in a statement that the Central Board of Excise and Customs (CBEC) has taken a number of initiatives to facilitate trade and resolve disputes.

  • Govt took various steps to boost revenue flow: FinMin Dec 17, 2015 06:15 PM IST

    Govt took various steps to boost revenue flow: FinMin

    Keeping interests of domestic farmers in mind, the government has raised basic Customs duty on sugar to 40 percent from the earlier 15 percent in two instalments, it said in a statement.

  • Can the tax rate on cigarettes go up to as much as 70%? Dec 08, 2015 09:27 AM IST

    Can the tax rate on cigarettes go up to as much as 70%?

    Shares in tobacco major ITC have been pressured following a government panel that proposed a three-tier GST structure that recommended a "sin tax" rate of 40 percent on select items such as tobacco products.

  • CEA terms tobacco GST rate as 'status quo'. But is it? Dec 07, 2015 02:44 PM IST

    CEA terms tobacco GST rate as 'status quo'. But is it?

    ITC shares have cracked on uncertainty on what GST could mean for tobacco products, in light of recommendations of a report by a panel headed by Chief Economic Advisor Arvind Subramanian. The report calls for a 40 percent "sin tax" for tobacco products.

  • FM stands firm, says GST Bill will soon see light of day Aug 24, 2015 08:31 PM IST

    FM stands firm, says GST Bill will soon see light of day

    FM Arun Jaitley put a premium on training of officers, capacity building and interaction with state governments for effective implementation of GST.

  • Govt further cuts gold, silver import tariff value Jul 16, 2015 02:16 PM IST

    Govt further cuts gold, silver import tariff value

    The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis taking into account global prices.

  • Government reduces tariff value on gold, silver Jun 01, 2015 07:50 PM IST

    Government reduces tariff value on gold, silver

    The import tariff on silver has also been cut to USD 544 per kg.

  • Excise collection on petrol, diesel up 50% at Rs 74.5K cr May 08, 2015 10:03 PM IST

    Excise collection on petrol, diesel up 50% at Rs 74.5K cr

    The government had on four occasions between November 2014 and January 2015 raised excise duty on petrol and diesel to take away gains coming by way of global oil prices dipping to six-year low.

  • Union Budget 2015: Customs duty on commercial vehicles raised to 40% from 10% Feb 28, 2015 01:17 PM IST

    Union Budget 2015: Customs duty on commercial vehicles raised to 40% from 10%

    Auto sales have been under pressure for the last few months with the economy still to show signs of a recovery. The pick-up around the festive season too has not been maintained. Furthermore, the withdrawal of excise cut forced auto makers to increase prices, thereby affecting sales.

  • Budget 2015-16: Plan expenditure to get a big boost, says IDFC Securities Feb 26, 2015 06:40 PM IST

    Budget 2015-16: Plan expenditure to get a big boost, says IDFC Securities

    Low fuel prices have cut down on fuel subsidy. Excise revenues to go up with economy picking up.

  • Budget 2015-16: Cement sector hopes for customs, excise duty tweak Feb 13, 2015 06:23 PM IST

    Budget 2015-16: Cement sector hopes for customs, excise duty tweak

    The cement sector hopes the government would make several key changes to boost the sector.

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