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Excise duty collection jumps 48% this fiscal on record hike in fuel taxes

While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel, that more than made up for the below normal fuel sales.
Excise duty collection during April-November 2020, was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up during the same period in 2019, according to data from the Controller General of Accounts (CGA).
This despite the fact that over 10 million tonnes less diesel - the most used fuel in the country - was sold during the eight months period.
Diesel sales during April-November 2020, stood at 44.9 million tonnes as compared to 55.4 million tonnes a year back, according to data from the oil ministry s Petroleum Planning and Analysis Cell (PPAC). ....

Services Tax , Petroleum Planning , Controller General , Analysis Cell , Taxation In India , Fuel Tax , Taxes On Petrol And Diesel , சேவைகள் வரி , பெட்ரோலியம் திட்டமிடல் , கட்டுப்படுத்தி ஜநரல் , பகுப்பாய்வு செல் , வரிவிதிப்பு இல் இந்தியா , எரிபொருள் வரி , வரி ஆன் பெட்ரோல் மற்றும் டீசல் ,

Welcome To IANS Live - BUSINESS - Excise duty collection surges 48% in FY21 on high fuel levies

The excise duty collection during the first eight months of the current financial year was over Rs 1.96 lakh crore, compared to over Rs 1.32 lakh crore collected during April-November FY20, official data showed.The ....

New Delhi , India Private , News Service , All Rights , புதியது டெல்ஹி , இந்தியா ப்ரைவேட் , செய்தி சேவை , அனைத்தும் உரிமைகள் ,

'Steps to broaden tax net generated Rs2b'

‘Steps to broaden tax net generated Rs2b’
Excise DG says new technology enabled department to maintain accurate record
APP
January 14, 2021
FAISALABAD:
Multiple steps were taken to enable Punjab Excise, Taxation and Narcotics Control Department for generating additional Rs2 billion during the current financial year.
This was stated by the department’s Director General Saleha Saeed while speaking to the media at Excise office on Wednesday.
She added, “The focus of Excise department was to enhance tax net. Technological advancement has enabled the department to collect and maintain accurate record and potential of recovery.”
Induction of new technology would completely weed out the exploitation by minimising contact between taxpayers and tax collector, she further said. “It will also help enhance tax net through reliable data.” ....

Saleha Saeed , Narcotics Control Department , Punjab Excise , Director General Saleha Saeed , Mo Ney , சாலேத சயீத் , போதைப்பொருள் கட்டுப்பாடு துறை , பஞ்சாப் கலால் , இயக்குனர் ஜநரல் சாலேத சயீத் ,

CARE lowers Centre's fiscal deficit projection to 7.8% of GDP

January 13, 2021
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Earlier projection was 9-9.5%; after adding borrowings on for GST compensation to states, fiscal deficit seen at 8.4%
CARE Ratings has revised downwards its projection of the Centre’s fiscal deficit to 7.8 per cent of GDP during FY21 against its earlier estimate of 9-9.5 per cent.
This revision comes in the wake of the release of the first advance estimate of gross domestic product (GDP) for FY21 and the credit rating agency’s expectations on the finances of the Central Government.
On adding the amount borrowed for Good and Services Tax (GST) compensation to states, the fiscal deficit could widen to 8.4 per cent of GDP, the agency added. ....

Sushant Hede , Air India , Services Tax , Bharat Earth Movers , Indian Tourism Development Corporation , Bharat Earth Movers Limited , Finance Minister , Care Ratings , Fiscal Deficit , First Advance Estimate , Gross Domestic Product Gdp , Good And Services Tax Gst , Tax Collections , சுஷாந்த் ஹெட் , அேக இந்தியா , சேவைகள் வரி , பாரத் பூமி மூவர்ஸ் , இந்தியன் சுற்றுலா வளர்ச்சி நிறுவனம் , பாரத் பூமி மூவர்ஸ் வரையறுக்கப்பட்டவை , நிதி அமைச்சர் , பராமரிப்பு ரேடிஂக்ஸ் , நிதி பற்றாக்குறை , மொத்த உள்நாட்டு ப்ராடக்ட் ஜீடீபீ , நல்ல மற்றும் சேவைகள் வரி க்ஸ்ட் , வரி வசூல் ,

Welcome To IANS Live - TopStory - 7 MLAs sworn in as Cabinet ministers in Karnataka (Ld)

Photo Credit: IANS
IANSLive
Bengaluru, Jan 13 (IANS) With the induction of seven new faces, Karnataka Chief Minister B.S. Yediyurappa on Wednesday expanded his Cabinet for the third time in the last 17 months.
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Update: 13-January-2021 ....

News Service , India Private , All Rights , செய்தி சேவை , இந்தியா ப்ரைவேட் , அனைத்தும் உரிமைகள் , மந்திரி சபை , சட்டமன்ற உறுப்பினர் ,