Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: due date for vat payment :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: cpt :: VAT RATES :: list of goods taxed at 4% :: form 3cd
 
 
News Headlines »
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C

Finmin may not give excise sops to oil cos
October, 05th 2006
The finance ministry may not provide any excise duty concession on petroleum products as demanded by the petroleum ministry in the light of sliding global crude prices. The petroleum ministry had sought a minimum Rs 1 per litre excise duty concession on petrol and diesel citing the high rate of tax on petroleum products in India. Sources in the finance ministry said that the condition of oil marketing companies (OMCs) are improving due to softening global oil prices, hence further rationalisation of duties are not necessary. The trend is visible as OMCs losses on diesel have been arrested at around Rs 0.13 per litre (average of September 16-30) compared with around Rs 5.5 per litre in the previous fortnight. OMCs have already started making about Rs 1.5 per litre profit on petrol since the last two quarters. The Rangrajan Committee has recently raised the issue of taxation on petroleum products and based on its recommendations duties had been rationalised. The total taxes-to-retail price ratio of petrol and diesel compares favourably with other comparable countries, besides the worse period for OMCs are over, sources in the finance ministry said. Indian Oil Corporation (IOC) chairman Sarthak Behuria confirmed that the company was making Rs 1.50 on the sale of every litre of petrol and on diesel margin is marginally negative at Rs 0.13 per litre. Speaking to ET, petroleum secretary MS Srinivasan said: OMCs are still bleeding on kerosene and liquid petroleum gas (LPG). He, however, said petrol margins of OMCs are positive, and a near break-even is reached in diesel sale. OMCs are, however, apprehensive regarding volatility of global crude prices. Prices are based on the average of previous fortnight. There is lot of volatility in the market, marketing director of a public sector OMC said. He said crude prices were on the rise on Wednesday. This would mean that the consumer would not get any price relief in the immediate future. It is feared that global crude prices may go up again in the winter when western countries would need fuel for their heating requirements. OMCs are taking a hit of Rs 200 per cylinder on domestic LPG and Rs 16 on the sale of every litre of kerosene, Bharat Petroleum chairman and managing director Ashok Sinha said. He said the company was, however, earning $4 on processing every barrel of crude oil.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions