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: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: empanelment :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: TDS :: VAT Audit
 
 
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

FinMin likely to extend auto excise cuts beyond June
May, 07th 2014

The Finance Ministry is working on indirect tax proposals which could give relief to the domestic industry as well support India’s exports. In its to-do list for the new government, the indirect tax team in North Block is examining the extension of excise cuts for the auto industry beyond June, lowering export duties on some items addressing the inverted duty structure in specific sectors.

These are tough times for India’s manufacturing sector. Be it auto, cement or even core industries like coal and power and the finance ministry is only too aware of the industrial slump. After cutting the headline excise rate for the capital goods sector in the interim budget, the indirect tax team in the ministry is preparing a plan to give a further boost to industry.

CNBC-TV18 has learnt pushing India’s exports, supporting the manufacturing sector, keeping a tab on the current account deficit (CAD) and rectifying the inverted duty structure are high on the agenda of the indirect tax team.

This means a small cut in some of export duties is not ruled out. These items like iron ore, iron ore pellets, leather items, bauxite may see a cut in the export duty.

Excise sops given to the auto industry may stand extended beyond June 30 and inverted duty structure for many products is likely to be corrected. The big caveat is that these plans have not factored in failure of the monsoon.

The government is also keeping a check on the CAD, so despite the FM estimating CAD at a low of USD 32 billion for FY14, any rollback in the import duty on gold roll will be calibrated and cautious.

While an overall cut in the headline excise and service tax rates is not being contemplated currently, things could change, if the monsoon fails. The need for a sector focused indirect tax push, may turn into a bigger fiscal relief story, with the new government having to figure out the consequent fiscal maths.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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