"February, 2010" Archive - Page 2

Major tax relief to agriculture & related sectors: Budget 2010-11

Project import status at a concessional customs duty of 5 per cent with full exemption from service tax to the initial setting up and expansion of Cold storage, cold room including farm pre-coolers for preservation or storage of agriculture and related sectors produce; and Processing units for such produce;...

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Posted Under: Excise Duty |

New tax incentives announced for Infrastructure Sector Budget 2010-11

Shri Pranab Mukherjee, the Finance Minister while presenting the Union Budget in Lok Sabha today announced grant of project import status to ‘Monorail projects for urban transport’ at a concessional basic duty of 5 per cent. This would strengthen the public transport system and reduce the dependence on fossil fuels....

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Posted Under: Excise Duty |

Uniform basic duty of 5 per cent and cvd of 4 per cent on import of medical equipment : Budget 2010-11

A uniform concessional basic duty of 5 per cent, CVD of 4 per cent with full exemption from special additional duty on all medial equipment are proposed doing away with a very complex import duty regime. The Finance Minister, Shri Pranab Mukherjee while presenting the Union Budget in Lok Sabha today said that multiple rates coupled wit...

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Posted Under: Excise Duty |

Indian Rupee to get a symbol, join the select club of currencies

The Finance Minister, Shri Pranab Mukherjee announced in his Budget speech in Lok Sabha on friday that it is proposed to formalize a symbol for the Indian Rupee in the ensuing years. The proposed symbol will appropriately reflect and capture the Indian ethos and culture....

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Posted Under: Excise Duty |

Service Tax retained at 10%: Budget 2010-11

Certain New Services to be brought within Service Tax Purview.Legislative Changes to Plug Revenue Leakages to Remove Distortions and to Clarify Certain Doubts.Process Of Refund of Accumulated Credit to Exporters of Services to Be Made Easy. Accredited News Agencies Providing Online Feed to be Exempted From Service Tax. Net Revenue Gain of...

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Posted Under: Excise Duty |

Rate reduction in Central Excise duties partially rolled back

AD-VALOREM ON NON PETRO PRODUCTS & CARS INCREASED BY 2 PERCENT. CENTRAL EXCISE ON PETROL & DIESEL RAISED BY RE. ONE PER LITRE.In the Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, the rate reduction in Central Excise duties has been partially rolled back and the standard rate on all no...

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Posted Under: Excise Duty |

Special duty concessions to promote clean environment, Clean Energy Cess @ Rs. 50 per Tonne on Coal: Budget 2010-11

The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, provides relief measures to promote clean environment. Clean energy cess on coal produced in India as well as on the imported, will be levied at a rate of Rs. 50 per tonne. The measure is aimed at building the corpus of the National Cl...

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Posted Under: Excise Duty |

P. Chidambaram welcomed the General Budget for 2010-11

The Union Home Minister, Shri P. Chidambaram has welcomed the General Budget for 2010-11 presented in Parliament on friday. In a statement issued here today, he described the budget as a very balanced effort . Following is the text of the statement....

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Posted Under: Excise Duty |

Indian judiciary – Executive – Sorry state of affairs

The people of this country are facing the problem of enormous delay in justice delivery before the lower courts and they have heard the problems like lack of infrastructure, increase in litigation etc. The problem of delay in justice delivery before the lower courts and even the appellate courts was prevalent from the beginning and contin...

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Posted Under: Excise Duty |

The 3 big things in Union Budget 2010-11, according to the PM

On the question of fiscal consolidation, the much-awaited roll-back of the stimulus measures was announced in the Budget. There were expectations that this roll-back would be either calibrated or selective. But we saw an across-the-board increase in central excise duty from 8 to 10 per cent and there are obvious fears in certain quarters ...

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Posted Under: Excise Duty |

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