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: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: cpt
 
 
« Customs and Excise »
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes
 The Customs and Central Excise Duties Drawback Rules, 2017
 Man fleeing from Customs arrested
 Refund of amount on account of double-payment of Customs
 SC paves way for trial against RIL in 1987 excise evasion case
 GST: Govt sets up panel to receive profiteering complaints

Govt Considering Extension of Excise Duty Benefits Beyond December
October, 06th 2014

The government is looking at the proposal for extending excise duty concessions to the automobile sector beyond December, a move that would provide further relief to automakers. "We have already discussed the proposal (to extend excise duties beyond December) that the incentives provided (to the auto sector) should be continued. The government will take a decision in this regard at the appropriate time," Heavy Industries Minister Anant Geete told reporters on the sidelines of the ACMA conference here.

Meanwhile, government sources said the Heavy Industry Ministry is likely to send a proposal to Finance Ministry regarding extension of excise duty concession till March 31, 2015.

In a relief to the automobile and consumer durable sectors, the government in June this year extended the excise duty concession by six months to December 31. The concessions were earlier valid till June 30. The government had cut excise duty on cars, SUVs and two-wheelers as well as consumer durables in the Interim Budget in February to help the industry tide over a demand slump.

The extension of duty concession will enable continuation of excise duty on small cars, scooters, motorcycles and commercial vehicles at the current level of 8 per cent from 12 per cent previously. The factory gate duty on SUVs stands at the reduced rate of 24 per cent as against 30 per cent. The duty on large cars will continue at 24 per cent compared with 27 per cent earlier, while the duty on mid-sized cars will stand at 20 per cent from 24 per cent.

Excise duty on capital goods and consumer durables will continue to attract a lower duty of 10 per cent as against the pre-budget rate of 12 per cent.

Most carmakers had passed on the benefit of excise duty reduction to customers by cutting prices. The auto industry body had been lobbying for extension of the reduced rates. Automobile sales in India fell for the second consecutive year in 2013-14 and were 4.65 per cent lower at 17,86,899 units. In 2012-13, car sales fell 6.69 per cent, the first drop in a decade.

Asked about the auto recall policy, Geete said, "We are taking all steps to boost the automobile sector and the (auto recall) policy will be framed with that objective".

The Heavy Industry Ministry is mulling over a policy of mandatory recalls, which will do away with the current system of voluntary recalls by auto companies.

Regarding the National Electricity Mobility Mission Plan, for electric vehicles, Geete said, "We want to start the plan from Delhi. We will soon roll out the Plan from Delhi".

The Mission Plan projects a potential for 6-7 million units of new vehicles sales of Electric Vehicles (EVs), along with resultant fuel savings of 2.2-2.5 million tonnes that can be achieved by 2020.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

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