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Budget 2018: Automakers Seeks 2 GST Rates For Passenger Vehicles

Automobile industry body SIAM is seeking two tax rates for passenger vehicles under the Goods and Services Tax (GST) regime instead of multiple rates levied currently, as part of its wish list for the upcoming Budget. The industry body has also ...

What is The Difference Between Excise Duty And Sales Tax?

Tax payment is a financial levy charged to citizens by government in order to raise funds and run the economy of the country. Tax payment is mandatory depending on the law and the amount or charge is decided by the government ...

Petrol price hiked by Rs 1.69/litre, diesel by Rs 0.50

Petrol price was today hiked by a steep Rs 1.69 per litre and diesel by 50 paise a litre as the crisis in Iraq spooked international oil and currency markets. The hike, effective midnight tonight, excludes local sales tax or ...

Can abolition of income tax ever be a reality in India? Doubt it

It's not such a bad idea to dangle a carrot just a few months before elections. It's even better, if it talks of complete abolition of Income tax, sales and excise duty. Now, there is another grandiose tax abolition (or ...

Another grandiose tax plan in the offing for the common man

It's not such a bad idea to dangle a carrot just a few months before elections. It's even better, if it talks of complete abolition of income tax, sales and excise tax. Now, there is another grandiose tax abolition (or ...

Essar Oil surges 6% after Supreme Court order

Shares of the Essar Oil surged 6% on Friday after the Supreme Court asked the company to pay the balance sale tax dues in installments spread over two years. The Supreme Court said that the balance dues of Rs 5,165 ...