Excise Duty Current Affairs, GK & News

Cut in Excise Duty on Petrol

The union finance minister recently announced the excise cut on petrol and diesel to contain inflation. She also announced a ₹200 subsidy for those buying LPG cylinders under the PM Ujjwala Yojana scheme. How much excise duty is reduced and what is the revenue implication? Union Finance Minister announced reduction of central excise duty on ..

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States vs Centre on fuel taxes

The Centre and the states are at loggerheads over taxes and duties on petrol and diesel. What is the argument of the Centre? Centre feels that some states are not reducing Value added tax (VAT) on petrol and diesel in line with the Centre’s cut in excise duty. Recently, Prime Minister Narendra Modi said Maharashtra, ..

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Agricultural Infrastructure and Development Cess

The Finance Minister of India, Nirmala Sitharaman, announced an agricultural infrastructure and development cess (AIDC) on some goods while presenting Union Budget 2021. AIDC was announced to provide support to those sector that has been one bright spot amid the COVID-19 pandemic. Highlights AIDC will be applied on a small number of items. Under the ..

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