Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: TDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES
 
 
General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

CoalMin urges FM not to disturb mode for collecting SED
February, 03rd 2012

Coal Minister Sriprakash Jaiswal has urged the Finance Ministry not to disturb the existing arrangement for levying Stowing Excise Duty (SED) on coal dispatches, under which his ministry collects the proceeds and uses it for development of mines.

The Coal Ministry expects to collect about Rs 1,100 crore per annum from SED and fears that the levy would be subsumed following implementation of Goods and Services Tax (GST).

"In pre-Budget consultations with Finance Minister Pranab Mukherjee, Coal Minister Sriprakash Jaiswal has sought an exemption to SED from being subsumed into the proposed GST in lines with exemption granted to the indirect taxes on five petroleum products," a top Coal Ministry official told PTI.

The issue was taken up by Jaiswal in his pre-Budget consultation meeting with Finance Minister Pranab Mukherjee on January 31.

At present, the Coal Ministry levies a Rs 20 per tonne duty on coal dispatches by firms for rehabilitation, stowing and infrastructure development of abandoned mines. The SED was doubled to Rs 20 a tonne in December, 2011, after the Cabinet raised the maximum limit to Rs 50 a tonne.

The Coal Ministry has argued that in absence of SED, it would face a resource crunch for implementation of mines conservation and development works as per provisions in Coal Mines Act, 1974.

"If these specific purpose levies are subsumed into the GST, the funds generated from these levies will become part of the central kitty... Resultantly, the availability of funds for development of renewable energy sources and for the activities related to the conservation and development of mines will become restricted," a ministry document said.

The rationale for continuing with SED without it being subsumed in the proposed GST is critically important from the environment perspective, he added.

Jaiswal made similar demands from the Finance Ministry last year too.

The Bill on GST -- which seeks to overhaul the indirect tax regime -- is currently with the Parliamentary Standing Committee.

Besides SED, the coal sector currently collects Clean Energy Cess (CEC), which is used for harnessing renewable energy sources to reduce dependence on the fossil fuels

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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