Page 8 - Excise Duty

SC dismissal of review petition on HSN codes setback for industry

Auto component industry may have to pay up to 15% basic Customs duty and 28% GST

Kejriwal kingpin of excise policy scam, handcuffs getting close to him: BJP

The BJP on Sunday alleged Delhi Chief Minister Arvind Kejriwal is the "kingpin" of the excise policy "scam" and said handcuffs are getting close to him as nodes of corruption are being unravelled. Addressing a press conference here, BJP national spokesperson Gaurav Bhatia alleged Kejriwal was busy indulging in corruption when Covid-affected people needed his help. Delhi BJP president Adesh Gupta, who also addressed the press conference, said, "Delhi's excise policy has proved to be a corrupt one. Arvind Kejriwal is the kingpin of this entire scam." Bhatia said when it was time to help Covid-affected people, Kejriwal was busy indulging in corruption by signing the excise policy. "Roots of the excise policy 'scam' lead to the doorstep of corrupt Kejriwal. No one is above law and no corrupt person will be spared," he said. On the AAP's claim that the 2024 Lok Sabha elections will be a direct fight between Kejriwal and Prime Minister Narendra Modi, the BJP spokesperson said everyone k

CBI issues summons to some accused in Delhi excise policy 'corruption' case

The CBI has summoned for questioning on Saturday several accused in the corruption case related to the implementation of the Delhi Excise Policy, officials said. The agency is examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia, the officials said on Saturday. They said once the process of examining the documents and electronic gadgets as well as the bank transactions is completed, summonses will be issued to other accused. The CBI FIR, which was registered before a special court on Wednesday, has also been shared with the Enforcement Directorate, a financial probe agency, which will look into the allegations of money laundering. The agency on Friday carried out searches at 31 places which included premises related to Sisodia as well as some bureaucrats and businessmen. The AAP condemned the raids with Delhi Chief Minister Arvind Kejriwal claiming the agency has been "asked from above" to harass its leader

CBI raids Manish Sisodia's house; 'We welcome them', says CM Kejriwal

Sisodia took to Twitter to announce the raid and said he will cooperate with the probe so that the truth comes out soon

Centre planning to further cut windfall tax on crude, diesel: Report

The government is expected to review the new taxes, imposed on July 1, for the third time soon,

Amid robust tax growth, customs and excise duties decline over 10% in Q1

Receipts from customs and excise duties were down 10.59 per cent at Rs 97,695 crore in Q1 of FY'23

Excise duty on petrol was Rs 9.48/ltr, diesel Rs 3.56 in 2014: Minister

Excise duty on petrol was Rs 9.48 per litre and Rs 3.56 on diesel when BJP came to power in 2014 before it rose to a record Rs 32.98 and Rs 31.83, respectively, in May 2020, Parliament was informed

Fall in Delhi govt's excise revenue 'inexplicable' as sales rise: Report

The excise revenue of the Delhi government in the first quarter of the current fiscal year remained flat compared to 2019-20 despite a steep rise in whiskey and wine sales

Amid CBI probe, Delhi excise policy may be extended by two months

The ongoing Delhi Excise Policy, which has been shrouded with much controversy, is likely to be extended by two more months as it expires on July 31.

Govt issues corrigendum to withdraw excise on ATF for international flights

Indian Oil had begun levying 11% duty following a govt notification; ATF accounts for 40% of an airline's operating expenses

PSUs face further investment apathy; privatisation may struggle: Analysts

The bulk of the earnings reduction over the past two months for the Nifty-50 index, according to KIE, has come from the government's decision to levy new taxes

Our expansion plans will take a hit due to ATF duty, say airlines

ATF accounts for around 40 per cent of an airline's operating expenses

Fuel exports rise in FY23; refiners stay healthy despite addl excise

Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices

Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts

The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue lost when it cut excise duty on fuel, industry sources said

Petrol export duty: Will RIL shares fall more after Friday's 9% slide?

The bias for Reliance remains positive, with strong support seen at the 50-WMA, below which the next significant support is at Rs 2,350.

How Delhi's new excise policy sinks spirits of private liquor retailers

The new excise policy of the state government had allowed the entry of private liquor retailers for the first time

States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI

States gained Rs 49,229 crore from VAT revenue on fuel when oil prices were increasing and will forego Rs 15,021 crore now that excise duty on fuel has been cut, SBI Research said in a report

Kerala, Maharashtra, Raj reduce VAT on fuel after Centre cuts excise duty

Maharashtra, Rajasthan, Kerala have decreased VAT on petrol and diesel after Finance Minister Nirmala Sitharaman's call to provide further relief to consumers following a cut in excise duty by Centre

Italy lowers fuel taxes to help tackle surging prices due to Ukraine war

A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8

Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco

A two-judge bench, comprising justice Alok Aradhe and justice S Vishwajith Shetty, basically upheld the earlier order by a single bench of the court in this regard