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Excise Duty : Notification No. 1/2016-Central Excise prescribes the Basic Excise Duty (BED), with effect from 02.01.2016, on the following produ...
Custom Duty : All the Custom duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provis...
# Income up to Rs 1.6 lakh – nil Income above Rs 1.6 lakh and up to Rs 5 lakh – 10 per cent Income above Rs 5 lakh and up to Rs 8 lakh – 20 per cent Income above Rs 8 lakh – 30 per cent. # Income Tax department ready with two-page Saral-2 return forms for individual salaried assesses.
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Corporate India will have to shell out an additional Rs 21,000 crore if the 2010-11 Budget increases the excise duty by 2 per cent. A study by the Business Standard Research Bureau shows that 1,278 manufacturing companies (excluding oil and gas) accounted for 8.13 per cent, or Rs 86,314 crore of the gross revenue for the year 2008-09. So, a 2 per cent increase in the excise duty on gross sales of Rs 10,64,865 crore will fetch Rs 21,200 crore more revenue for the government.
The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year. In December 2008, the government had reduced the general rate of central excise duty for […]
