Value Added Tax

In FY 2025-26, the gross fiscal deficit is estimated to be Rs 22,900 crore (including Rs 4,000 crore of special assistance for capital expenditure by Government of India).

Industrial units to get 50% rebate in VAT in Haryana for using natural gas

This scheme will be applicable to entire industries including micro, small and medium enterprises (MSMEs), and will be effective for two years from the date of its notification, said an official statement.

Reduce VAT on fuel, give benefits to people: PM Modi to states

PM Modi told the chief ministers of states that he expects those states which did not reduce VAT to extend the benefit.

Dadra-Nagar Haveli and Daman-Diu cuts VAT on jet fuel to 3%

The civil aviation ministry has been urging states and Union Territories (UTs) to reduce the VAT levied on Aviation Turbine Fuel (ATF), which is the major component of an airline’s operational costs.

Jharkhand govt cuts petrol price for 2-wheelers by Rs 25

Jharkhand Petrol Price: The new rate will come into effect from January 26, 2022.

Gujarat govt reduces VAT on ATF by 5%

The reduction will come into effect from midnight today (Monday).

Consumption demand making a comeback, says RBI Governor Shaktikanta Das

The recent cut in excise duty and value added tax by states will augment purchasing power of people, the Governor said.

States to forego Rs 44,000 crore from VAT reduction on fuels: Report

After months of calls for lowering the taxes on the fuels, the Centre on November 4 cut excise duty on diesel by Rs 10 a litre and by Rs 5 on petrol.

TN becomes first state this fiscal year to cut petrol prices; will Centre now bite the bullet?

Tamil Nadu cutting petrol prices could be an indication to other opposition-ruled states to do the same. This could also force the hand of BJP-ruled states and the central government.

Explained: Who is gaining from the sharp rise in fuel prices?

International oil prices have risen sharply as the market expects the global rollout of vaccines will accelerate economic activity and raise demand, while OPEC continues to keep supplies tight. This, along with high taxes by the Centre and states, has also inflated petrol and diesel prices.

Record fuel prices: It's all in the taxes

Excise duty on petrol increased two-fold from Rs 9.48 a litre in April 2014 before Narendra Modi took charge, to Rs 32.90 a litre now. Similarly, on diesel, it has gone up almost eight fold from Rs 3.56 a litre in April 2014 to Rs 31.8 a litre now

Explained | Will fuel prices dip under GST regime?

Though the GST was introduced on July 1, 2017, petrol and diesel were kept out of it due to the higher dependence of states.

Exclusive | Petrol and diesel saw their steepest hikes ever in last 12 months

Between February 22 last year and this year, the price of petrol increased by Rs 18.64 a litre and diesel by Rs 16.32 a litre. The rates of petrol and diesel rose 26 per cent and 25 per cent, respectively, over a year.

New legislation for levy & collection of tax on supply of GST

The State Cabinet meeting chaired by Chief Minister Naveen Patnaik today approved 11 different proposals which included exemption of VAT on procurement of Green Gram (moong) under Price Support Scheme (PSS) Operation.

GST anti-profiteering clause aimed at checking high prices:CEA

The anti-profiteering clause under the GST is meant to 'reassure' that there would not be any significant rise in prices or inflation consequent to the implementation of Goods and Services Tax, Chief Economic Adviser Arvind Subramaniam said here today.

Is GST bad news for home buyers and renters?

Monthly instalments on home loans taken for under-construction houses will attract GST from July. So will land leasing and rented properties, including the currently-exempt residential housing.

Is GST bad news for home buyers and renters?

The Lok Sabha, on March 29, 2017, cleared four bills in preparation of the upcoming rollout of the Goods and Services Tax (GST) regime: Integrated GST Central GST Union territory GST Compensation bill This &#82

Karnataka Budget lifts tax on alcohol, 'Namma' canteens to serve cheap food

Karnataka is also starting a government subsidized chain of food centres similar to the ones in Tamil Nadu. Called the ‘Namma Canteen’ and modeled on Jayalalithaa’s ‘Amma Canteen’, it will sell breakfast at Rs 5 and lunch for Rs 10.

2016: A year of policy changes in real estate

For the real estate sector, 2016 will be remembered as the year of dramatic policy changes. These changes have the potential to usher in a more organised, cleaner and more transparent real estate market R

Real estate industry awaits clarity on several aspects of GST

While the tax structure for the goods and services tax (GST) has been announced, the real estate industry is waiting to see which rate is applied to it and the construction industry. Given the R

Odisha targets procuring 30lakh tonnes of paddy in kharif season

The Food and Procurement Policy for Kharif Marketing Season, 2016-17 was approved at the cabinet meeting presided over by Chief Minister Naveen Patnaik here today, Food Supplies and Consumer Welfare Minister Sanjay Dasburma said.

Govt working on rollout of GST from next April: Arun Jaitley

In his opening remarks at the Fourth Meeting of the Parliamentary Consultative Committee meeting here, he said the government so far is following the road map for implementation of GST "as per the schedule".

Prez nod to Constitution Amendment Bill on GST

The GST is a single indirect tax which will subsume most of the central and state taxes such as Value Added Tax (VAT), excise duty, service tax, central sales tax, additional customs duty and special additional duty of customs.