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Petrol diesel prices, Nirmala Sitharaman explainer on petrol diesel price cut, Chidambaram, BJP, Congress, PM Modi, Narendra Modi, Petrol Diesel prices today

Union Finance Minister Nirmala Sitharaman on Sunday clarified that the entire cost of the reduction in excise duty on petrol and diesel is borne by the central government and the states revenue wont be impacted by the move.

The duty reduction made in November 2021 has an implication of Rs 1,20,000 crore a year for Centre.

Move does not impact state sharing of taxes

Synopsis The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy. PTI The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused t...

July 9, 2021 PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) has surpassed the revenue collection target for the fiscal year 2020-21 by collecting Rs20.8 billion against the revised upward target that signified 22 percent growth, said an official during an online session. According to figures shared by tax and audit expert Muhammad Umair Zeb, the authority witnessed 22 percent growth on year basis by collecting Rs20.8 billion in the fiscal year 2020-21 compared to the corresponding f...

LAHORE: With a desire to increase revenues immediately economic planners impose measures without bothering to evaluate their impact on overall economy, job losses, and eventual fall in revenues....

Budget 2021: Customs duty hike to make ACs, mobile phones, spandex expensive but gold, silver, nylon get cheaper Air conditioners and refrigerators could get expensive by 2.5 percent in the short term because the customs duty on its key component compressors has been hiked to 15 percent. February 02, 2021 / 10:35 AM IST Duty on shrimp feed in increased to 15% from 5%. Customs duty on cotton raised to 10% from nil. The new Customs Duty structure will be put in place by October 1, 2021. Impo...

Widening tax net : K-P generates 66% more tax revenue in FY20 Major levy contribution was witnessed from telecom sector PESHAWAR: Established in 2013, the Khyber Pakhtunkhwa Revenue Authority (KPRA) has been making persistent annual collections under Rs11 billion, however in FY19-20, the tax body made a significant collection of Rs17.158 billion, despite the COVID-19 pandemic. The 66% hike is said to have come with a simple policy approach, ‘tax acculturation’, under which businesses and pe...