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 :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: empanelment :: ACCOUNTING STANDARD :: VAT RATES
Customs and Excise »
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports
 Migration to GST of existing Central Excise / Service Tax Assessees
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
 Budgetary Changes In Customs
 Customs and excise officials upset with GST administration deal with states
 Higher petro excise props up govt tax kitty

Oil fuels inflation to 11.05 per cent
June, 23rd 2008
Companies and consumers can expect another round of monetary tightening and administrative measures as headline inflation based on the wholesale price index crossed double digits to touch 11.05 per cent for the week ended June 7, the highest since May 6, 1995.
The inflation numbers spooked the stock markets, with the benchmark Sensitive Index dropping to its lowest in almost 10 months. The Sensex fell 516.70 points, or 3.4 per cent, to 14,571.29, its lowest since August 24. All but one stock in the index fell.
The 13-year high beat all analysts' and the government's expectations by almost 100 basis points and reflected the impact of the June 4 increase in auto and cooking fuels.
Petrol prices were raised by Rs 5 per litre, diesel by Rs 3 per litre and LPG by Rs 50 per cylinder after the basket of crude oil that Indian refineries buy touched $125 per barrel.
The inflation rate stood at 8.75 per cent in the previous week and 4.28 per cent in the corresponding week the previous year.
"Ninety-four per cent of the weekly jump is on account of fuel," Finance Minister P Chidambaram said in a brief statement outside his North Block office this afternoon.
"Inflation for the current week also captured rupee depreciation making imports dearer," said Dharmakirti Joshi, principal economist, Crisil.
"This is indeed a very difficult time," Chidambaram said, adding: "We will have to look at stronger measures on the demand side and the monetary side."
The government has already taken several fiscal and administrative measures like banning the export of some food items and cement, cutting import duties, banning futures trading in some items, and reducing customs and excise on petroleum products to curb the price rise.
Analysts and companies expect the inflation rate to stay above 10 per cent in the weeks ahead as the fuel price rise works its way through the system.
"The inflation rate will be around 11.45 per cent next week," said Saugata Bhattacharya, vice-president, economic research, Axis Bank, attributing the rise to an increase in private transport prices that will push up fruit and vegetable rates.
"Even by December the inflation rate will remain close to 10 per cent. It will decline only by January or February, but not below 9 per cent," he added.
"The wholesale price index does not look like coming down unless there is a very sharp correction in crude oil and commodity prices," Joshi added.
Meanwhile, with the inflation rate consistently above the Reserve Bank of India's comfort level of 5 to 5.5 per cent since February (see chart), bankers and economists expect the central bank to raise the cash reserve ratio (CRR), the proportion of deposits the central banks require banks to keep with it, 25 to 50 basis points.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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