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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TDS
 
 
« General »
 Supreme Court agrees to hear plea on imposition of service tax on lawyers
 India's tax department signs 3 advance pricing agreements
 Income Tax Dept to probe deeper into suspicious bank accounts
 Modi may lower taxes to spur demand in his budget sops
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week

Additional 25% levy on existing state taxes on diesel vehicles in Budget
March, 24th 2011

The Delhi budget for 2011-12 has made diesel vehicles costlier in capital, but reduced the levy on bicycles, kerosene stoves, lanterns and sanitary napkins.

The budget presented on Tuesday will also make tobacco products, furnishings, suitings and sweetmeats costlier for Delhiites.

Chief minister Shiela Dikshit announced Delhi Metro's ambitious Phase-III which envisages adding another 103 km to the network at a cost of Rs 32,000 crore that will begin this fiscal with a Rs 1,071 crore allocation.

The budget proposed an additional 25% levy on existing state taxes on diesel-propelled vehicles specified in the schedule-I of the Motor Vehicle Taxation Act 2004.

"...many studies have pointed out that in spite of the use of CNG in all public transport vehicles and also by many private vehicles in Delhi, the growing number of diesel vehicles is adding to air pollution," she said justifying the tax.

The National Capital Region is the largest market of cars sold across the country, accounting for about 15% of new vehicles are sold every year.

Diesel propelled vehicles account for about 30% of the total sales and every year around 8-lakh such vehicles are sold annually across the country.

The new policy is likely to impact the sale of popular diesel vehicle such as Maruti Swift, Tata Indica and Mahindra Scorpio as the higher tax component will make them even more expensive.

Diesel propelled vehicles are already about 15% more expensive than petrol ones because of taxes and engine technology that uses higher proportion of components and moving parts.

"It won't be ideal to tax a particular fuel, which is becoming popular by virtue of higher mileage and faster acceleration," a senior Maruti Suzuki executive said.

The Society of Indian Automobile Manufacturers' said that diesel is not a dirty fuel and any change in policy will impact the segment customer sentiment in the market.

Dikshit proposed to give relief to cycles, the "aam-admmi's preferred mode of commutation" by removing value added tax, or VAT, on bicycles having an MRP of upto Rs 3,500.

She said cycling was a healthy and non-polluting mode of transportation which "needs encouragement and protection of the government".

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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