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: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: cpt :: empanelment :: articles on VAT and GST in India :: form 3cd
VAT (Value Added Tax) »
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation
 HC seeks Delhi, centre reply on restaurants charging excess VAT, service tax
 Shakti Autos booked for evading VAT, bogus sales
 VAT sops to IOCL Paradip refinery hits Odisha revenue growth
 Government to announce new VAT rates in October
 World Wide Gst, Vat, Sales Tax Rate
 Article on Transition Process of Registrations under VAT / Service Tax Laws to GST Law

Joining the bandwagon, more states cut VAT on oil products
June, 30th 2011

More and more states seem to be responding to the Finance Minister's appeal to reduce duty on oil products. Latest to join the list are Maharashtra and Rajasthan.

The Maharashtra government today announced reduction in value added tax (VAT) on diesel and kerosene. This will lead to diesel becoming cheaper by around 72 paise per litre and kerosene price going down by 28 paise a litre.

Government in Rajasthan too announced duty cuts. LPG cylinders in Rajasthan will cost Rs 25 less and diesel becomes cheaper by 54 paise per litre. The government has also decided to slash taxes on kerosene.

The moves comes on a day, when finance secretary Sunil Mitra said that the duty cuts will not hurt the deficit targets, if indirect tax collections continue to rise.  He also clarified that the total revenue forgone from the duty cuts will only be Rs 25,000 crore and not Rs 49,000 crore as earlier believed.

"Indirect tax is targeted to grow at about 14-15%, but in the first two-and-a-half months of this year, we have seen growth of close to 36%. Now if we continue to grow at that rate and if there is no slowdown in that over the next three quarters I dont think it is going to be such a problem," he added.

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

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