Finance ministry asks automobile sector to submit a report on the impact of such a move within a week’s time The government appears to have made up its mind to increase excise duty on diesel cars to neutralize the advantage of the state subsidy that has prompted motorists to increasingly favour vehicles powered by the fuel that’s Rs.30 a litre cheaper at the pump than petrol. Indications that the government is leaning...

A day after the Central Board of Excise and Customs (CBEC) said finance minister Pranab Mukherjee was considering an increase in excise duty on diesel cars, a consensus seems to be building within the government, with the oil ministry supporting the move. Following this, key stakeholders involved in taking a decision on increasing excise duty on diesel vehicles are likely to meet on Wednesday, according to three people, including a top...

-The Economic Times Petrol car owners in Delhi will get some relief from the recent steep rise in petrol price after the state government decided not to Levy value added tax on the price hike announced by the oil marketing companies on last Wednesday. Tobacco products will get costlier, court fee will increase and circle rates for property are expected to rise resulting in steeper stamp duty on property transactions. Public transport...

Most states now Levy greater tax on petrol than the central government, without having to share the subsidy burden. After last week’s increase in prices, state sales tax/VAT on petrol is more than central excise in most cases. The central government levies a fixed excise duty of Rs 14.78 on every litre of petrol. But, states Levy an ad valorem tax which, in absolute terms, increases with every price increase of...

-Kafila.org With a comfortable gap of time after the revelations of paid news, private treaties and the Radia tapes, the media is once again on the offensive to guard its independence. The trigger this time is a private member’s bill, the Print and Electronic Media Standards and Regulation Bill, 2012. The proposed legislation has been widely and energetically panned by the industry, with the Congress subsequently distancing itself from the Bill....