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BASIC EXCISE DUTY
Observe and shock absorb: To ride out this oil crisis, focus should be on well-targeted support, not broad price suppressionIndia is navigating a critical oil import challenge. The government's approach of keeping fuel prices steady faces fiscal and equity questi...- Govt plans to stick to budgeted capex, exit non-strategic areasIndia plans to keep its capital spending high in FY27 to support economic growth. Officials stated the government will continue its planned...
- LPG under-recoveries may hit Rs 80,000 crore in FY2027 amid West Asia disruptions: ICRAIndian oil companies face significant financial strain. LPG under-recoveries may reach Rs 80,000 crore by FY2027. Supply disruptions and hi...
- Budget 2026: Oil industry seeks abolition or review of OID cess on pre-NELP and nomination blocksAs the Union Budget 2026 approaches, the oil and gas sector is calling on the government to reconsider the OID cess imposed on domestically...
- "They are cheating the people...": Rajasthan CM Ashok Gehlot attacks Centre over its excise policyRajasthan CM Ashok Gehlot criticized the BJP-led Central Government for unfair excise duty policies, alleging funds meant for states were r...
- Govt defers additional excise duty of Rs 2/litre on petrol by one month, diesel by six monthsBranded petrol, not doped with ethanol, will attract Rs 4.60 a litre excise duty as against Rs 2.60 currently. In the case of diesel, the n...
- Burden of fuel excise cut entirely on Centre, says FM Nirmala SitharamanSome opposition leaders including former finance minister P Chidambaram alleged that the duty cuts would reduce the share of states in cent...
- FM Nirmala Sitharaman rebuts Opposition flak on excise duty cuts, says move does not impact state sharing of taxesTaking to Twitter, Sitharaman said she is sharing some useful facts on levies on petrol and diesel for the benefit of all.
- Govt's excise mop-up from petrol, diesel doubles to Rs 3.7 lakh cr in FY21; states get Rs 20,000 crMinister of State for Finance Pankaj Chaudhary in a written reply to a question stated that collection from levy of central excise duty on ...
- Petrol price hiked by Rs 2.45, diesel by Rs 2.36Diesel price was hiked by Rs 2.36 per litre in Delhi to Rs 66.69 and by Rs 2.50 per litre in Mumbai to Rs 69.60.
- Budget 2019: Cigarette makers are unlikely to hike prices due to imposition of the excise duty, say analystsAn analyst, who requested anonymity, said cigarette companies can factor this excise duty impact when they hike prices next due to increase...
- Government hikes excise duty on petrol by 37 paise per litre and Rs 2 per litre on dieselGovernment hiked excise duty on petrol and diesel, the second increase in duties in just over two weeks, to mop up a little less than Rs 4,...
- Govt hikes excise duty on petrol by Rs 1.6 per litre, diesel by 40 paisaThe basic excise duty on unbranded or normal petrol was increased from Rs 5.46 per litre to Rs 7.06 a litre, according to a CBEC notificati...
- Excise duty hike on petrol, diesel to yield Rs 20,250 crore more revenueThe govt had raised excise duty on petrol and diesel on Nov 12, Dec 2, Jan 2 and Jan 17 to help it achieve the fiscal deficit target for th...
- Oil decontrol sham: Crude oil prices at 5-year low, but consumers aren't reaping any benefitSome benefit was supposed to be passed on to consumers under a much touted decontrol of prices in the sector.
- Budget 2013: Excise duty on fertilisers should be withdrawn, says FAIFuels used for steam and power generation are meant for fertiliser manufacture, it added.
- Union Budget 2012-13: A complete guide to indirect taxConsumer durables and goods such as washing machine, airconditioner, laptops, toys, wrist watches, two-wheelers, perfumes will now be costl...
- 38% of new petrol price reflects central, state taxesThe new rate is based on a basic price of petrol, without including any taxes, refining cost or margin, of Rs 41.38 per litre, oil company ...
- Sugar price may shoot up once againThe price of sugar could shoot up once again, this time on account of the government, with the Finance Bill proposing to omit the commodity...
- Budget 2011: ASSOCHAM for restoration of 4% excise duty on pipes and allied productsThe products mentioned above fall in Chapter no. 6811 and attract a basic Excise Duty of 10% as per Union Budget 2010-2011.
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