Additional Excise Duty News Today

The Karnataka government has been devising plans to hike the prices of cheap liquor, awaiting implementation post the Lok Sabha elections.

Whiskey, brandy, and rum saw modest growth in volume, while vodka and gin experienced stronger growth in the spirits segment.

According to a government notification on Monday, a windfall tax on diesel has been increased to 1 rupee per litre from nil earlier

Chief Minister Siddaramaiah highlighted that despite the raised excise rates, the cost of liquor in Karnataka would remain comparatively lower than that of neighbouring states.

It is not often that a state government's budget assumes as much critical, political and electoral significance as the one Karnataka's new Chief Minister Siddaramaiah presented today.

The government has delayed the levy of a Rs 2 excise duty on unblended petrol by one month to November 1.

On 1 July, the government imposed a special additional excise duty of ₹23,250 per tonne on the sale of locally produced crude oil, sending stocks of oil producers tumbling. Here is what prompted the windfall tax, and its likely implications.

Fuel Prices Cut: Senior Congress leader P Chidambaram today said whether the states can afford to give up revenue from VAT on petrol and diesel unless the Centre devolves more funds or gives them more grants.

Get latest articles and stories on Business at LatestLY. After taking a critical view of the central governments request to the states to cut taxes on petrol and diesel, former Union Finance Minister P Chidambaram on Sunday said the facts about the states share of tax reduction are contrary to what he had said previously as the entire burden of the duty cut would fall on the centre. Business News | Entire Burden of Fuel Price Reduction Falls on Centre, I Stand Corrected: Chidambaram.

States are getting very little by way of share of duties on petrol and diesel