VAT

Friday, Apr 19, 2024 | Last Update : 09:09 AM IST

The diesel price reduced by Rs 8.36 in Delhi due to the VAT cut. (PTI Photo)

Diesel gets cheaper by Rs 8 in Delhi due to VAT cut

Kejriwal Thursday announced a reduction in the Value Added Tax on diesel from the existing 30 per cent to 16.75 per cent

30 Jul 2020 12:41 PM

These charges are taxed multiple times as they are billed in a circuitous manner, said a senior government official. (Representational image)

Govt forms committee to rationalise additional taxes on Aviation Turbine Fuel

Currently, airlines have to pay charges such as 'throughput charges', 'into plane charges' and 'fuel infrastructure charges.'

18 Aug 2019 11:56 AM

The carmakers’ cuts come as China’s automobile industry faces a major slowdown.

BMW, Mercedes-Benz lower prices in China after VAT drop

BMW would reduce prices for both domestically produced and imported models.

16 Mar 2019 4:54 PM

Centre is also failing miserably to get all states to agree for VAT cut on the two petroleum products.

Petrol prices rule high as govt stubborn on fiscal target

Centre collected a staggering Rs 2,29,019 crore as excise revenue from the petroleum sector in FY18.

18 Sep 2018 10:53 AM

It said that this windfall gain will have positive impact on state finances, which might push down the states fiscal deficit by 15-20 basis points.

States can cut fuel prices, says SBI arm

States across the country impose VAT or sales tax on petrol and diesel which vary from one to another.

12 Sep 2018 1:02 AM

PM Modi said the GST has within one year of its launch led to a over 70 per cent jump in the indirect taxpayer base, demolished checkposts and merged 17 taxes and 23 cesses into one single tax. (Photo: PTI)

Single GST rate is not possible, says Modi

The Prime Minister said earlier many taxes were hidden and under GST “what you see is what you pay”.

02 Jul 2018 6:46 AM

Exemptions given to industries are not allowed under GST and the GST Council has left it to the discretion of the states.

Ease of doing business to be key for states

One of the advantages of the GST regime is the elimination of multiple taxes.

01 Jul 2018 6:54 AM

The official didn’t respond to a question on the impact on state revenues if liquor is included in GST as there’s no such proposal or demand.

States reluctant to include fuel, liquor

Liquor, LPG, natural gas, aviation turbine fuel (ATF), petrol and diesel are exempt from GST.

01 Jul 2018 6:50 AM

A peak tax rate of 28 per cent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the GST (goods and services tax) regime, a top government official said.

Fuel prices may not change under GST

The peak GST rate plus VAT will be equal to the present tax incidence.

21 Jun 2018 11:43 AM

No pure GST on petrol, diesel; 28 pc tax plus VAT on anvil under GST

The timing of including petrol products in GST will be a political call.

20 Jun 2018 1:51 PM

Petrol prices today were at Rs 76.58, Rs 79.25 a litre, Rs 84.41 a litre and Rs 79.48 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.

Petrol prices cut for 13 days in a row, diesel prices come down

Oil firms cutting rates by 19-21 paise per litre in case of petrol, diesel prices were cut by 15-16 paise per litre.

11 Jun 2018 12:53 PM

Philippines, India and Indonesia – are likely to garner the most support from ongoing tax reforms in the medium term.

Tax reforms to expand revenue base in India: Moody's

India and Sri Lanka have both recently streamlined and levied their VAT or GST regimes.

31 May 2018 3:51 PM

States get Rs 456 crore revenue per day from auto fuel.

Centre earns Rs 665 crore a day from excise on oil

Excise duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre since Nov 2014.

30 May 2018 9:49 AM

The cost of petrol in Chennai is Rs 79.47 per litre while that of diesel is Rs 71.59.

Tamil Nadu govt hints it may not cut VAT on fuel

Both petroleum products and liquor sales in the state are covered under the VAT regime.

21 May 2018 3:31 PM

Saudi Arabia in 2017 rounded up dozens of royal family members, current and former senior officials in a crackdown on corruption that has also strengthened the power of Crown Prince Mohammed bin Salman. (Photo: File)

11 Saudi princes protesting austerity measures detained: report

They were also demanding compensation for a death sentence issued against a relative at the royal gathering.

06 Jan 2018 7:05 PM

West Bengal Finance Minister Amit Mitra.

GST regime more primitive than VAT: Amit Mitra

Mitra optimistic about the overall growth of exports from West Bengal.

22 Dec 2017 2:38 PM

Saudi Arabia will have an expat levy on employers which will encourage them to hire more countrymen and less outsiders.

GST effect in Gulf countries

A VAT will impact cost of living and bring down job opportunities for immigrants.

09 Dec 2017 12:30 AM

The state will have to bear burden of about Rs 940 crore for reducing petrol prices and about Rs 1,075 crore for the cut in diesel prices.

State cuts petrol by Rs 2, diesel by Rs 1

Revised fuel rates were applicable from Tuesday night.

11 Oct 2017 1:22 AM

Maharashtra government to reduce fuel VAT soon?

The state government has been criticised for having the highest taxes.

06 Oct 2017 2:36 AM

Currently, the GST regime slots items under rates of 5, 12, 18 and 28 per cent.

Easing the burden?

Reducing number of GST slabs won’t benefit the poor, or those hit hardest by the tax.

05 Oct 2017 3:29 AM

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Mohan Guruswamy

VAT