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Any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs 40,000.

Business

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

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

22 July 2018 8:13 AM GMT

File image of a man counting cash at a petrol pump.

Business

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 6:27 AM GMT

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

Business

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.

21 Aug 2018 11:25 PM GMT

The share price of SBI slumped 3.79 per cent to close at Rs 304.45 as the quarterly numbers were below what the market participants had anticipated.

Business

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.

11 Sep 2018 7:32 PM GMT

Business

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

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

11 Sep 2018 7:34 AM GMT

Business

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 4:30 AM GMT

The Bengal Excise (Amendment) Bill, 2016, has merged sales tax and excise duty on liquor into one. (Representational Image)

Metros

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...

2 March 2017 7:50 PM GMT

$Regarding the new GST timeline of July 1, the report said \this is in line with our base case that the GST would be implemented between April and September 2017\.$ Business

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 July 2017 6:49 AM GMT

Business

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 8:25 AM GMT

Business

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 7:38 AM GMT

Major segments including scooters, motorcycles and cars, witnessed record decline December sales.

Business

Small cars may see small hike in prices under GST

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

24 April 2017 12:07 PM GMT

Business

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 4:35 AM GMT