The price of petrol is expected to come down to Rs 84.71 a litre and diesel to Rs 77.98
Punjab Chief Minister Charanjit Singh Channi on Tuesday allocated portfolios to the new ministers, keeping 14 departments with himself and giving home affairs to deputy chief minister Sukhjinder Singh Randhawa and health to other deputy O P Soni.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
Inputs by the Petroleum Ministry were found among stolen documents.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
Grains, non-mineral water might be on the list; biscuits, butter and cheese might attract GST
'There are deliberations on whether there can be lowering of income taxes and other sops to keep more money in the hands of taxpayers, enabling them to spend more and boost demand.'
The order, issued by the Home Department, will come into effect only after guidelines are finalised, said a senior official.
Jewellers went on strike for three days from March 2.
Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
This is perhaps for the first time the CBI raided a serving police chief of a state.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
The seizure of liquor has been a matter of concern for the EC since it apprehends that the liquor might be used to influence the voters.
At least 22 people died and seven others were taken ill after consuming spurious liquor in several villages of Mubarakpur area, leading to suspension of six policemen on Friday on charges of laxity.
Steel makers in Punjab has termed the excise duty demand raised by the central excise department as unjustified and has sought intervention of the chairman of Central Board of Excise and Customs in the matter.
It is immediately not clear how GST will impact the mass car market. Experts, however, say the level of tax on smaller cars will have to be at a differential to the sedans.
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
As Centre cedes power to states in indirect tax, it wants to all ystaffers' worry of little work.
The Election Commission has deployed 36 observers for monitoring the flow of illegal cash and other inducements during the upcoming assembly polls in Meghalaya, Nagaland and Tripura. The officials have been deputed by the Central Board of Direct Taxes (Income Tax department) and Central Board of Excise and Customs (Customs and Excise department) and will act as Election Expenditure Observers, a senior Revenue department official said.
Customs sleuths will be posted in London, Hong Kong, Dubai and Brussels in an effort to check trade-based money-laundering among others.
'Harassment' is the objective, not detention.
The Central Board of Excise & Customs will develop the process over the next few months.
Excise exemptions may be whittled in Budget to offset higher govt salaries, pensions
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
Consumer durable firms, including Haier, Whirlpool, Panasonic, Godrej Appliances and Daikin, are increasing prices of their products by up to 5 per cent following the withdrawal of excise duty sops, coupled with high input costs.
Only luxury and 'sin' items could be left in highest slab. 12 and 18 per cent slabs could be merged in the future
The tragedy had struck the tea gardens of the twin districts of Golaghat and Jorhat after a large number of their workers consumed the spurious liquor on Thursday night.
The IAS officer, who was posted for nearly 15 months in the sports and youth affairs department, headed by Minister Anil Vij, has been transferred over 45 times in his career so far.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
Former Andhra Pradesh minister Bhuma Akhila Priya was on Wednesday arrested in connection with the kidnapping of a former badminton player and his two brothers from here over a land dispute, police said.
Finance Ministry has asked excise and service tax officials to exercise caution while summoning CEOs and top functionaries of large firms or PSUs for probing any revenue cases.
With this allocation of portfolios, the Sharad Pawar-led NCP has got most of the 'plum' ministries.
In one of the highest such compensations, Chief Minister Arvind Kejriwal on Monday granted Rs one crore financial assistance to the family of a Delhi police constable who was allegedly beaten to death by suspected liquor mafia in Ghitorni area of South Delhi last week.
Government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14
The move is believed to be coming after Directorate General of Central Excise Intelligence slapped a notice demanding Rs 252 crore (Rs 2.52 billion) that was allegedly evaded by the chocolate maker for its new unit in Baddi, Himachal Pradesh even before it came into existence, official sources said.
An inquiry has been initiated by Directorate General of Central Excise Intelligence officials against these airlines.
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