Page 3 - Latest Updates on Excise Duty
CBI raids Manish Sisodia's house; 'We welcome them', says CM Kejriwal
Sisodia took to Twitter to announce the raid and said he will cooperate with the probe so that the truth comes out soon
 "CBI raids Manish Sisodia's house; 'We welcome them', says CM Kejriwal")
Centre planning to further cut windfall tax on crude, diesel: Report
The government is expected to review the new taxes, imposed on July 1, for the third time soon,
 "Centre planning to further cut windfall tax on crude, diesel: Report")
Amid robust tax growth, customs and excise duties decline over 10% in Q1
Receipts from customs and excise duties were down 10.59 per cent at Rs 97,695 crore in Q1 of FY'23
 "Amid robust tax growth, customs and excise duties decline over 10% in Q1")
Excise duty on petrol was Rs 9.48/ltr, diesel Rs 3.56 in 2014: Minister
Excise duty on petrol was Rs 9.48 per litre and Rs 3.56 on diesel when BJP came to power in 2014 before it rose to a record Rs 32.98 and Rs 31.83, respectively, in May 2020, Parliament was informed
 "Excise duty on petrol was Rs 9.48/ltr, diesel Rs 3.56 in 2014: Minister")
Fall in Delhi govt's excise revenue 'inexplicable' as sales rise: Report
The excise revenue of the Delhi government in the first quarter of the current fiscal year remained flat compared to 2019-20 despite a steep rise in whiskey and wine sales
 "Fall in Delhi govt's excise revenue 'inexplicable' as sales rise: Report")
Amid CBI probe, Delhi excise policy may be extended by two months
The ongoing Delhi Excise Policy, which has been shrouded with much controversy, is likely to be extended by two more months as it expires on July 31.
 "Amid CBI probe, Delhi excise policy may be extended by two months")
Govt issues corrigendum to withdraw excise on ATF for international flights
Indian Oil had begun levying 11% duty following a govt notification; ATF accounts for 40% of an airline's operating expenses
 "Govt issues corrigendum to withdraw excise on ATF for international flights")
PSUs face further investment apathy; privatisation may struggle: Analysts
The bulk of the earnings reduction over the past two months for the Nifty-50 index, according to KIE, has come from the government's decision to levy new taxes
 "PSUs face further investment apathy; privatisation may struggle: Analysts")
Our expansion plans will take a hit due to ATF duty, say airlines
Say the move will make international flights uncompetitive, seek rollback
 "Our expansion plans will take a hit due to ATF duty, say airlines")
Fuel exports rise in FY23; refiners stay healthy despite addl excise
Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices
 "Fuel exports rise in FY23; refiners stay healthy despite addl excise")
Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue lost when it cut excise duty on fuel, industry sources said
 "Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts")
Petrol export duty: Will RIL shares fall more after Friday's 9% slide?
The bias for Reliance remains positive, with strong support seen at the 50-WMA, below which the next significant support is at Rs 2,350.
 "Petrol export duty: Will RIL shares fall more after Friday's 9% slide?")
How Delhi's new excise policy sinks spirits of private liquor retailers
The new excise policy of the state government had allowed the entry of private liquor retailers for the first time
 "How Delhi's new excise policy sinks spirits of private liquor retailers")
States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI
States gained Rs 49,229 crore from VAT revenue on fuel when oil prices were increasing and will forego Rs 15,021 crore now that excise duty on fuel has been cut, SBI Research said in a report
 "States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI")
Kerala, Maharashtra, Raj reduce VAT on fuel after Centre cuts excise duty
Maharashtra, Rajasthan, Kerala have decreased VAT on petrol and diesel after Finance Minister Nirmala Sitharaman's call to provide further relief to consumers following a cut in excise duty by Centre
Italy lowers fuel taxes to help tackle surging prices due to Ukraine war
A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8
 "Italy lowers fuel taxes to help tackle surging prices due to Ukraine war")
Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco
A two-judge bench, comprising justice Alok Aradhe and justice S Vishwajith Shetty, basically upheld the earlier order by a single bench of the court in this regard
 "Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco")
PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot
Gehlot claimed Centre has earned about Rs 26 trn from excise duty in 8 years which, he said, is the highest amount earned by any dispensation in history of the country by imposing tax on petrol-diesel
 "PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot")
Reduce VAT on fuel to control prices in national interest: Modi to states
He said the Centre had urged states to reduce taxes and transfer the benefit to the citizens
 "Reduce VAT on fuel to control prices in national interest: Modi to states")
Delhi excise dept allows pvt shops to offer up to 25% discount on liquor
The Delhi government's excise department has allowed private shops to offer up to 25 per cent discount on the maximum retail price (MRP) of liquor.
 "Delhi excise dept allows pvt shops to offer up to 25% discount on liquor")
