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: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TDS
 
 
News Headlines »
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government

'Fresh sops for cement, none for I-T payees'
May, 04th 2007

Government announced fresh excise duty concessions on cement, whose rising prices had become a cause for concern, even as Finance Minister P Chidmabaram declined to entertain requests for more sops on personal income and corporate taxes.

He identified inflation, reigning at about six per cent, as a major worry where government would intensify fiscal and monetary measures to bring down the rate of price rise to 4.5 per cent.
 
Chidambaram was replying to the debate on the Finance Bill in Lok Sabha.

Admitting that dual excise duty structure proposed in the Budget 2007-08 did not draw positive response from cement players, Chidambaram revised the structure.

While those selling cement at a price below Rs 190 for a 50 kg bag would continue to enjoy the reduced duty of Rs 350 per tonne, those selling at a higher rate would have to shell out 12 per cent of retail selling price as excise duty against Rs 600 per tonne proposed in the Budget.

As such, those selling at above Rs 190 a bag would pay ad valorem duty instead of specific duty. This would result in a reduction of prices by Rs seven per bag, Chidambaram said.

In response to the demand by the industry, the Finance Minister also modified export duty on iron ores, proposed in the Budget. He reduced export duty on iron ore fines with less than 62 per cent fe content to Rs 50 per tonne from Rs 300.

However, export duty on iron ore fines with fe content of more than 62 per cent and flakes would remain at Rs 300 per tonne.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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