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Latest Articles in excise duty

Siddaramaiah Announces 20% Hike In Liquor Excise Duty In Karnataka

"Even after the increase in excise rates, the price of liquor in our state would be lower when compared to the neighbouring states," the Chief Minister said in the budget speech

Delhi Court Fixes 5 April For Hearing Sisodia's Bail Plea Hearing; ED Files Reply

BW Online Bureau

Economy

Sisodia is presently in Judicial Custody till April 5 in an ED case related to the Excise case.

Excise Duty On Petrol Was Rs 9.48/ltr, Diesel Rs 3.56 In 2014: Rameswar Teli

BW Online Bureau

Economy

The Union government earned Rs 1.72 lakh crore from the petroleum sector in duties and taxes in the 2014-15 fiscal, which rose to over Rs 4.92 lakh crore in 2021-22, says Minister of State for Petroleum and Natural Gas, Rameswar Teli.

Excise Duty On Petrol Will Be Completely Abolished: Finance Ministry

BW Online Bureau

Economy

The additional excise duty of Re 1 on petrol and diesel will also no longer be applicable

Maharashtra, Kerala, Rajasthan Reduce VAT On Petrol, Diesel After Centre Cuts Excise Duty

BW Online Bureau

Energy & Infra

The Shiv Sena-led Maharashtra government slashed the VAT on petrol by Rs 2.08 per litre and diesel by Rs 1.44 per litre. A statement issued by the government said the state exchequer will have to bear an annual loss of Rs 2,500 crore as a result of this decision

FM Sitharaman Rebuts Opposition's Flak On Excise Duty Cuts

BW Online Bureau

National

First, former union finance minister P Chidambaram and then other Opposition leaders stated that the reduction in excise duty announced on Saturday evening would reduce the share of states in central taxes. On Sunday he retracted his statement saying the cut in the levies accrues to the central government alone

Finance Minister Announces Excise Duty Cut On Petrol And Diesel

BW Online Bureau

Economy

The government has reduced central excise duty on petrol and diesel by Rs 8 per litre and Rs 6 per litre respectively

PM Modi Urges States To Reduce VAT On Fuel

BW Online Bureau

National

Speaking at an interaction with chief ministers on the emerging COVID-19 situation in the country, Modi said he wanted to flag a separate issue of the challenges being faced by the people due to the global situation

'No Recommendation By GST Council To Bring Petroleum Products Under GST'

BW Online Bureau

Energy & Infra Oil and Gas

Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.

Excise From Petrol, Diesel Doubles In FY21; States Get Rs 20,000 Cr

BW Online Bureau

Energy & Infra Oil and Gas

The central government's mop-up from excise duty levied on petrol and diesel more than doubled to Rs 3.72 lakh crore in the pandemic year 2020-21, out of which states were given less than Rs 20,000 crore, according to a reply by the government in the Rajya Sabha on Tuesday.

Maharashtra Govt Cuts Excise Duty On Imported Scotch By 50%

BW Online Bureau

Economy India

The excise duty on imported scotch whiskey has been brought down from 300 per cent to 150 per cent of the manufacturing cost

Kerala Government In No Mood To Reduce Fuel Tax

BW Online Bureau

Energy & Infra Oil and Gas

Justifying the state's decision not to cut the additional tax on fuel, the Finance Minister said Kerala has not increased the state-tax on petrol and diesel for the last six years and it had actually reduced it once.

Govt's Excise Collection Jumps 48% In April-July; Already 3x Of Full Fiscal Oil Bond Liability

BW Online Bureau

Energy & Infra

Bulk of excise duty collection is from the levy on petrol and diesel and with sales picking up with a rebounding economy, the incremental collections in the current year may be over Rs 1 lakh crore when compared with the previous year