Rating agency Moody’s has sounded a note of caution that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure. Pressure has been mounting on the Indian government to cut excise duty on petrol and diesel to bring down their prices […]
With oil turning costlier relentlessly – Brent crude went past $80 a barrel yesterday, up 3.3 per cent from a week ago and a three-and-half-year high – the cost of Indian basket went to a prohibitive $76 a barrel. Add to that rupee falling sharply against the dollar, and the government refusing point blank on […]
India has notified simpler central excise norms for the jewellery sector after a committee that interacted with the trade recommended on simplifying the procedures and compliance issues related to excise duty on jewellery, the finance ministry said. The committee was set up after jewellers complained of harassment following changes to the duty structure in the […]
Gold merchants and jewellers in India have decided to keep their shops shut indefinitely in protest against an increase in excise duty despite the government’s assurance that it would look into their concerns. Finance Minister Arun Jaitley announced a 1 percent excise tax on gold in his annual budget presented to parliament last month. The […]
