It expects the Indian market to grow to 10 million units annually by 2030 and it intends to control half the market then, like it does now.
The rates, on net calorific value (NCV) basis, dropped to $ 5.05 per mmBtu for six month period beginning April 1, 2015.
The reduction in rates is likely to be announced by the month end as per the practice of fortnightly revision in prices, and has been made possible due to appreciation of rupee against the US dollar.
Oil Minister M Veerappa Moily on Friday hinted at a reduction in price of petrol in next few days, the first cut in rates in over five months.
The list of exempted goods from central excise duty has shrunk from 400 items in 2011-12 to 300 now.
By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
Jet fuel (ATF) rates were on slashed by a steep 12.5 per cent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.
10 women and six minors are among the injured, the officials said.
The next meeting of the GST Council on January 16 would discuss the issue of jurisdiction over assessees as well as try to reach a finality on taxation of territorial waters
Jaitley says govt is open to scrapping 1% additional tax on GST
Finance Minister Arun Jaitley on Wednesday said for the first time fiscal deficit target will be met without budgetary cuts.
In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows.
On April 5, 2016, the Nitish Kumar-led government imposed total prohibition in Bihar. M I Khan crunches numbers for the REAL picture since then.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
Appearing on Rediff Chat, G Srikanth, partner in GSV Associates, Chartered Accountants, Chennai, and member of the Institute of Cost and Management Accountants, answered readers' queries on the Goods and Services Act.
The Aam Aadmi Party government's first 100 days in power in Delhi have been a mixed bag
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
A prolonged war in Iraq would shake the Indian economy with oil prices going up and growth rate dropping to 2.5 per cent, A C Muthiah, the president of Federation of Indian Chamber of Commerce and Industry
Cigarette companies have substantial wriggle room thanks to India's complex tax structure, which categorises them by length and filter
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
Jewellery showrooms in Tamil Nadu and Andhra Pradesh were also opened.
Inching towards rolling out of GST, the GST Council on Saturday approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
The price reduction will be effective midnight tonight, announced Indian Oil Corp
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
Aviation turbine fuel to now cost more.
Gold traders and jewellers continued their strike for the 17th day today in protest against the 1 per cent excise duty on non-silver jewellery announced in the Budget.
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
The manifesto, on the lines of the party's promise in Delhi in 2015, also says the AAP government will set up Aam Aadmi canteens at sub-division and district levels where one time meal will be available for Rs 5, and reduce the power tariff to half for usages up to 400 unit.
As the MAMI film festival kicks off, Aseem Chhabra picks the must watch Indian movies.
'Till now, we were under tremendous stress. The economy was not recovering, the financial cycle was not moving and the banks were not supporting.' 'With the government pumping in money to the banks and asking the NBFCs to give priority to the MSME sector, there will be a revival.'
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
All but written off after a string of injuries wrecked havoc on his career four years ago, enigmatic boxer Akhil Kumar staged a remarkable comeback to make the 10-member Indian men's team for the Asian Games, in Incheon, South Korea.
The government plans to implement the single rate GST, which would subsume central excise, service tax and other local levies, from April 1, 2016
Releasing its 70-point programme, Kejriwal called party's manifesto 'holy'.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances