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: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: form 3cd :: empanelment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: due date for vat payment :: articles on VAT and GST in India :: TDS
 
 
News Headlines »
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31

'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 2017 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