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 :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: cpt
 
 
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

Budget update - Excise and service tax hike likely
June, 29th 2009

The Financial Express reported that International accounting and consulting firm Deloitte expects that the Indian government will increase excise duty and service tax rates in the upcoming budget to harmonize them with the proposed Goods and Services Tax, which is scheduled to be introduced from next fiscal.

The Government has cut excise duty rates by 6% and service tax by 2% in three stimulus packages, which Deloitte expects to be partially rolled back.

Mr MS Mani senior director of Deloitte Touche Tohmatsu India said "The Government may cut back indirect taxes reductions made as part of fiscal stimulus packages in December to February, as the finance minister is expected to discuss the roll out of GST and lay down a framework plan for the introduction of the tax in the country."

Mr Mani said the government is expected to give some directional clarity on the GST and service tax and excise duty rates could be increased in order to facilitate transition to the proposed GST regime.

However, GST is supposed to converge almost all indirect taxes at the Centre and states. Broadly, it will replace excise duty, service tax at the Central level and VAT at the state level.

Among other expectation from the Budget, to be presented by Mr Pranab Mukherjee finance minister on July 6th, Deloitte predicts the custom duty on crude oil may be brought back to bring fresh revenue streams for the government to rein in mounting fiscal deficit.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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