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Sep 27, 2021 08:05 AM IST Essar Oil said it still needed to pay 223 million pounds ($305 million) to HM Revenue & Customs (HMRC) by January, confirming an earlier report in the Sunday Times newspaper, which said the company had used the government’s pandemic VAT deferral scheme last year.
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Sep 01, 2021 10:51 AM IST "I have written a letter to all chief ministers in the country to reduce the Value Added Tax (VAT) on ATF (aviation turbine fuel). There are eight-nine states where it is in the range of one to four per cent, and that has resulted in 15 per cent increase in flights from those states," the minister said.
- Jun 25, 2021 05:24 PM IST
Bringing petrol and diesel under GST would lead to uniform pricing across India and help companies offset the tax paid against GST liabilities, but the current system of taxation brings a big chunk of revenue for the Centre and states.
- May 24, 2021 08:24 AM IST
Petrol and Diesel Prices Today: With no change in fuel prices, petrol price in Delhi remained at Rs 93.21 per litre on May 24. Diesel price remained at Rs 84.07 per litre in the national capital.
- Feb 22, 2021 12:14 PM IST
West Bengal, Assam, Rajasthan and Meghalaya have cut state taxes to cool down fuel prices. But among these states, diesel is now cheaper than Delhi only in Meghalaya.
- Feb 19, 2021 08:55 AM IST
When natural gas is brought under the ambit of GST, the government should ensure that it also includes distribution of gas and regasification of LNG
- Jan 29, 2021 12:05 PM IST
The state finance department late Thursday issued orders, which came into effect from Thursday midnight. Chief Minister Ashok Gehlot said that despite the price of crude oil being at the lowest level for a long time at the international market, inflation is rising as prices of petrol and diesel are hovering at all-time high levels and the common man is facing economic difficulties.
- Nov 02, 2020 08:20 AM IST
The government should bring the fuel under GST as soon as possible to give a boost to its clean energy drive
- Jun 09, 2020 07:00 PM IST
Thailand is expected to add about 3 billion baht ($95.72 million) to its coffers annually from the move, which will affect services such as music and video streaming, gaming, and hotel booking, Thanadirek added, without naming any companies.
- May 11, 2020 09:38 AM IST
A measure aimed at shoring up state finances, battered by low oil prices and a severe coronavirus-driven slowdown.
- Jan 29, 2020 04:07 PM IST
When the Goods and Services Tax (GST) was introduced on July 1, 2017, amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
- Oct 23, 2019 08:35 AM IST
Sunit Bagai, president of the Rajasthan Petrol Diesel Association (RPDA) said fuel pumps located in the border areas are on the verge of shutdown due to increased VAT rate.
- Apr 02, 2019 12:16 PM IST
Price tags for products listed on the Apple's China website were lowered on April 1 morning, including a discount of up to 500 yuan ($74.44) for some of its latest iPhone models.
- Oct 11, 2018 11:54 AM IST
Apart from custom and excise duty, airlines pay each state a value added tax ranging between 3 to 30 percent on ATF
- Oct 09, 2018 01:55 PM IST
The Modi government being sensitive to problems of people due to rising prices of petrol and diesel, reduced Rs 2.5 on it and now it is Kejriwal's turn to do the same and reduce the prices by at least Rs 5, the minister said.
- Sep 10, 2018 05:50 PM IST
While a cut in excise duty that the central government levies will impact fiscal deficit, states like Bihar, Kerala, and Punjab are not in a position to cut sales tax (or VAT), the official said.
- Jun 26, 2018 07:55 PM IST
The scheme would support airline operators with concessions by the central government, state governments and airport operators to reduce the cost of airline operations on regional routes, or other support measures, the Cabinet meeting was informed.
- Jun 20, 2018 05:06 PM IST
The peak GST rate plus VAT will be equal to the present tax incidence, which is made up of excise duty, levied by the central government, and VAT charged by the states.
- May 23, 2018 03:32 PM IST
Oil marketing companies can also be asked to slow down the pace of increase in price revisions and absorb some of the cost
- May 22, 2018 07:19 PM IST
Crude oil prices have risen to about $80 a barrel from about $55 in October.
- Apr 16, 2018 04:11 PM IST
In this year, petrol prices have been raised by Rs. 4.05 per litre in Delhi, Rs. 4.01 per litre in Kolkata, Rs. 4 per litre in Mumbai and Rs. 4.26 per litre in Chennai.
- Apr 12, 2018 07:45 PM IST
Brewing geopolitical tensions coupled with fears of trade wars and inventory cuts are expected to keep crude up in the near term
- Jan 08, 2018 03:40 PM IST
These include nuclear, oil, gas, coal, petrochemical and aircraft equipment, the Ministry of Finance said on its website.
- Jan 01, 2018 03:47 PM IST
Saudi Arabia compounded the New Year blow for motorists with an unannounced hike of up to 127 per cent in petrol prices with immediate effect from midnight.
- Dec 22, 2017 12:45 PM IST
Due to lack of interface in place between the Goods and Services Tax network with the customs electronic date interchange (EDI) and the Directorate General of Foreign Trade (DGFT), the Centre is using ledger for manual records for refunds, Mitra said.
