Sales Tax

Saturday, Feb 04, 2023 | Last Update : 09:50 PM IST

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

Tamil Nadu Chief Minister Edappadi K Palaniswami on Tuesday said that the government is not in a condition to reduce sales tax on fuel.

We are not in a position to reduce sales tax on fuel, says Tamil Nadu CM

He emphasised on the Central Government to reduce the excise duty on fuel products.

11 Sep 2018 1:04 PM

Petroleum ministry has been demanding to bring petrol and diesel on GST to give relief to consumers from high prices.

No agreement on GST for fuel

The total tax incidence on petrol comes to 45-50 per cent and on diesel, it is 35-40 per cent.

22 Aug 2018 4:55 AM

India slashed the sales tax rate on over 50 products on Saturday in a move aimed at appealing to traders and the middle classes as Prime Minister Narendra Modi’s government eyes next year’s elections.

Govt cuts sales tax across sectors to ease pain of traders and consumers

Revenue collections from GST are a crucial pillar of government’s plan to cut its fiscal deficit.

22 Jul 2018 1:43 PM

Petrol price on Sunday touched a record high of Rs 76.24 per litre and diesel climbed to its highest ever level of Rs 67.57.

Petrol, diesel touch all time highs as oil companies hike rates

In India, petrol is the costliest in Mumbai where high local taxes has led a price of Rs 84.07 per litre.

20 May 2018 11:57 AM

Maharashtra State Finance Minister Sudhir Mungantiwar.

Traders owe Maha govt sales tax of Rs 2,860 crore: Sudhir Mungantiwar

Traders with dues of more than Rs 5 lakh and efforts to trace them has been initiated with the help of banks.

21 Dec 2017 1:55 PM

GST makes business more complicated than ever: report

GST was meant to unify $2 trillion economy and make it easier for companies to transact across state borders.

27 Jul 2017 12:19 PM

GST Council meet in Srinagar today, representatives of 29 states

GST will be a national sales tax that will be levied on consumption of goods or use of services.

18 May 2017 10:00 AM

Mid-sized cars of up to 1500 cc are levied with a 24 per cent excise by the the central government and a 14.5 per cent VAT by state governments, taking the tax incidence to 38.5 per cent.

Small cars may see small hike in prices under GST

Small cars currently attract a 12.5 per cent central excise duty.

24 Apr 2017 5:37 PM

According to the data from the finance department, the state has collected Rs 75,194 crore in the form of sales tax in January 2017. (Representational Image)

13 per cent sales tax boost post demonetisation

The finance department, which was earlier apprehensive of meeting its target of Rs 90,985 crore, is now confident of reaching its goal.

03 Mar 2017 1:20 AM

Central excise collection rises 26.3 pc in Jan: Adhia

Net collection for customs and service tax up by 10.1 per cent and 9.4 per cent respectively in January 2017.

10 Feb 2017 1:08 PM

The GST would need to come into effect by mid-September, when the old system of indirect taxation is due to lapse. (Photo: ANI)

Crackdown on cash imperils pivotal tax reform

A slump in business activity stemming from the cash crunch has caused the revenue of state govts.

22 Dec 2016 10:05 AM

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Farrukh Dhondy

sales tax