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CUSTOMS AND EXCISE
Government may lift fuel-supply safeguards once West Asia crisis abates: OfficialIndia plans to ease emergency energy measures as global tensions subside. These steps were taken to ensure fuel availability amid West Asia...- Beer sales rise 10% in Delhi this May as popular brands regain shelf spaceBeer sales in May surged by nearly 10% year-on-year in Delhi, fueled by the return of popular national brands to retail shelves. These nati...
- Govt restricts bulk industrial petrol, diesel purchases through petrol pumpsIndustrial and commercial users can no longer buy petrol and diesel from petrol pumps. They must now get fuel from bulk sale points. This c...
- Fueling Demand: Inside India’s ethanol mobility revolution in reverseIndia is launching an ambitious green mobility initiative. The country is establishing E100 fuel stations nationwide before flex-fuel vehic...
- GOQii moves SC over higher customs duty on fitness trackersGOQii Technologies has approached the Supreme Court. The fitness tech company wants a decision on customs duty for its imported bands. It a...
- CAIT seeks further GST simplification, says monthly collections have risen sevenfold since rolloutTraders' body CAIT seeks simpler GST rules. Tax collections have surged since 2017, but ground-level compliance remains difficult. More sim...
- Behind the petrol pump: Why fuel retailers losing Rs 7-8 per litre need $85 crude oil to stop bleeding cashOil companies face continued losses of Rs 7-8 per litre on petrol and diesel, with a breakeven point only at crude prices of $85-87 a barre...
- RBI unlikely to hike rates soon despite inflation risk, rate action only in Dec if needed: Icra's Aditi NayarThe Reserve Bank of India is expected to hold off on interest rate hikes. Inflation risks are rising due to fuel prices and monsoon uncerta...
- SC rules exxsol hexane a pure hydrocarbon, duty cut to 2.5%The Supreme Court has ruled that exxsol hexane is a pure hydrocarbon. This decision means imported exxsol hexane will attract a lower custo...
- West Asia crisis not a diplomatic issue, will lead to higher fuel costs for common man: Finance Minister Nirmala SitharamanFuel prices have risen again. Union Finance Minister Nirmala Sitharaman highlighted the West Asia crisis impact. She stated this crisis mea...
- 'Impact on India less due to good management, foresight': Harsh Vardhan Shringla on global energy challenges due to West Asia crisisIndia's energy crisis impact remains limited. Rajya Sabha MP Harsh Vardhan Shringla credits the government's effective planning and timely ...
- Limited price raise shows how much of global hit govt has absorbed: GoyalPiyush Goyal stated the government absorbed global oil price hikes by cutting excise duty. He highlighted significant fertiliser subsidies ...
- India should create strategic buffers to navigate 'most difficult' energy shock: CEA NageswaranV Anantha Nageswaran has called for India to build strategic buffers to manage the ongoing energy shock triggered by the West Asia crisis, ...
- CBIC sets up interim boards for settling customs and excise disputes after CECSC abolitionThe CBIC has established four interim boards in Delhi, Chennai, Mumbai, and Kolkata to handle pending customs and excise disputes following...
- No officer to hold sensitive posts beyond 3 years: Central Board of Customs and ExciseNo officer should remain posted on sensitive posts for more than three years to ensure probity among the government servants, the Central B...
- Finance Ministry detects about Rs 1,000 cr customs, excise duty evasionThe Finance Ministry has detected customs and excise duty evasion of at least Rs 1,000 crore between January and July.
- No higher service tax on air tickets booked before April 1: CBECThe Revenue Department has said air travellers who had purchased their tickets before April 1, 2012 will not have to pay the higher service...
- Excise duty, service tax evasion of over Rs 13,600 crore detectedRevenue department detected central excise and service tax evasion of over Rs 13,620 crore in the 11-month period till February of 2011-12 ...
- Indirect tax collection up 16.1% to Rs 2.85 lakh cr in Apr-DecBelying concerns over slowdown, indirect tax collections increased 16.1 per cent to Rs 2,85,787 crore during April-December.
- Decline in customs, excise pulls down October indirect tax mop upThe indirect tax collections during October declined by 2.5% mainly on account of drop in realisation from customs and central excise.
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