Odisha raises VAT on petrol, diesel

Last Updated: Wednesday, December 24, 2014, 23:08

Petrol and diesel in Odisha will now cost more by Rs 1.49 per litre and Rs 1.33 per litre respectively with the state Cabinet on Wednesday deciding to increase the VAT to 23 percent from the current 20 percent.

Wait till Dec 31: Jaitley on extension of auto excise sop

Last Updated: Wednesday, December 24, 2014, 17:48

The previous UPA government had cut excise duty on cars, SUVs and two-wheelers in the Interim Budget in February to help the industry tide over a demand slump.

No roll-back of excise duty hike on diesel, petrol: FinMin

Last Updated: Tuesday, December 16, 2014, 16:03

The government on Tuesday said it has no plans to roll-back the recent hike in excise duty on diesel and petrol.

Competition Commission rejects case on excise department and TCS

Last Updated: Monday, December 15, 2014, 16:14

Fair trade regulator CCI has rejected allegations of anti-competitive conduct against the excise department and TCS in connection with a technology to be provided by the IT firm to check the flow of illicit liquor in the national capital region.

States oppose Centre's revised GST draft

Last Updated: Thursday, December 11, 2014, 15:04

States have opposed the Centre's revised GST draft, Chairman of Empowered Committee of State FMs said on Thursday.

Hike in fuel excise duty aimed to meet budget deficit: Pradhan

Last Updated: Wednesday, December 3, 2014, 12:56

The government had yesterday raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel but retail pump rates will not be increased as oil firms decided to absorb the duty change for the time being.

OMC shares drop after excise duty on petrol, diesel raised

Last Updated: Tuesday, December 2, 2014, 18:31

Shares of three listed state-owned oil marketing companies (OMC) fell up to 4 percent at close today, after the government raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel.

Excise duty on petrol, diesel raised; no impact on prices

Last Updated: Tuesday, December 2, 2014, 15:33

Government on Tuesday raised excise duty on petrol and diesel by Rs 2.25 and Rs 1 a litre respectively, but consumers will be spared of price hike.

Excise tax on petrol hiked by Rs 2.25, disel by Rs 1 per litre

Last Updated: Tuesday, December 2, 2014, 14:03

Government hiked excise duty on petrol by Rs 2.25 a litre, and on diesel by Rs 1 a litre effective tonight.

Auto industry pitches for continuation of excise duty relief

Last Updated: Sunday, November 30, 2014, 12:18

Car makers have asked the government to extend excise duty relief, which is ending on December 31, saying removal of this incentive could push the industry into a negative territory.

5% export duty on iron ore pellets; excise hiked on gutkha

Last Updated: Tuesday, January 28, 2014, 03:10

"Considering the domestic requirement of iron ore pellets, the Government has decided to impose an export duty of 5 per cent on iron ore pellets," the Finance Ministry said.

Circular soon for levying excise on goods sold below cost

Last Updated: Tuesday, December 17, 2013, 19:04

The Finance Ministry Tuesday said it will come out with a circular by January 15 to implement a Supreme Court decision regarding valuation of goods sold below the cost price for levying excise duty.