All posts tagged: levies

Centre revises export levies on petrol, diesel and ATF from June 1, domestic fuel prices unchanged

Centre revises export levies on petrol, diesel and ATF from June 1, domestic fuel prices unchanged

Published by Webster

While export duties have been changed, excise duties on fuel sold in the domestic market remain unchanged. The revision is based on recent international crude oil prices and aims to ensure adequate domestic fuel availability amid global market fluctuations Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

75 commercial vehicles blacklisted over suspiciously low levies in Lucknow

75 commercial vehicles blacklisted over suspiciously low levies in Lucknow

Published by Parlour News

A review of Uttar Pradesh’s newly introduced one-time tax system has uncovered a troubling anomaly in Lucknow, where 75 commercial vehicles were assigned abnormally low tax amounts ranging from zero to ₹2,025. Authorities have blacklisted the vehicles and ordered a detailed investigation into how such discrepancies occurred. Representational image (Sourced) The state government introduced the revised one-time tax system through a notification on January 30, 2026, under the Motor Vehicles Taxation (Amendment) Act, 2025. Notably, the new system provides an annual rebate of 8% for older vehicles, reducing the overall tax burden over time. The anomaly surfaced during a routine review at the regional transport office (RTO) in Lucknow. In one case, a goods carrier registered in October 1995 carried a tax liability of just ₹1 as of April 1, 2026. With a rebate of the same amount reflected on the portal, the payable tax reduced to zero. Several similar instances were flagged, prompting further scrutiny. Officials said inquiries are underway to determine how tax is being generated for a nearly 30-year-old vehicle. Goods carriers …

MP village levies Rs 500 fine for abusive language

MP village levies Rs 500 fine for abusive language

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In a unique initiative to promote respectful behaviour, Borsar village in Madhya Pradesh’s Burhanpur district has introduced a rule imposing a Rs 500 fine or one hour of mandatory cleaning duty for using abusive language.  The decision was taken unanimously by the Gram Panchayat, and posters announcing the rule have been displayed across the village. The move aims to regulate public conduct and reduce conflicts arising from verbal abuse. Deputy Sarpanch Vinod Shinde said that the initiative was introduced to curb the widespread use of derogatory language among both children and adults. “Earlier, people frequently used offensive words, including remarks targeting mothers and sisters. Now, anyone found doing so must either pay a fine of Rs 500 or perform one hour of cleaning work in the village,” he said. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute …

Trump has ‘backup plan’ to reimpose tariffs if Supreme Court strikes down levies, says aide

Trump has ‘backup plan’ to reimpose tariffs if Supreme Court strikes down levies, says aide

Published by Parlour News

The Trump administration is preparing to rely on alternative legal authorities to rapidly reimpose tariffs if the Supreme Court invalidates the president’s sweeping global levies, National Economic Council Director Kevin Hassett said. U.S. President Donald Trump looks on as he signs executive orders and proclamations in the Oval Office at the White House, in Washington, D.C., U.S., May 5, 2025. (REUTERS) “We’ve got a very, very detailed backup plan. We’re confident that if we were to lose this case, that we can get all of the president’s policies in place almost immediately with alternative authorities,” Hassett said Friday on Fox News. The Supreme Court held its first opinion day of the year on Friday, but did not issue a ruling on the legality of the tariffs imposed under the International Emergency Economic Powers Act. The decision is expected to have implications for Trump’s reciprocal duties and fentanyl-related charges. More opinions could be released over the next two weeks as the justices return from their holiday recess. Also Read | Also Read | ‘Modi didn’t call’: …

Parliament Winter Session: Govt to bring two bills in Lok Sabha to replace GST cess on tobacco, pan masala with new levies

Parliament Winter Session: Govt to bring two bills in Lok Sabha to replace GST cess on tobacco, pan masala with new levies

Published by Parlour News

The two bills are listed for introduction by Finance Minister Nirmala Sitharaman on December 1, 2025. Photo: Sansad TV via PTI Photo The government will introduce two bills in the Lok Sabha on Monday (December 1, 2025) to levy excise duty on tobacco and tobacco products, and a new cess on manufacturing of pan masala. The Central Excise Amendment Bill, 2025, will replace the GST compensation Cess, which is currently levied on all tobacco products like cigarette, chewing tobacco, cigars, hookahs, zarda, and scented tobacco. Also read | From tea stalls to tumours, tobacco affordability fuelling cancer epidemic in India The Central Excise (Amendment) Bill, 2025, seeks “to give the government the fiscal space to increase the rate of central excise duty on tobacco and tobacco products so as to protect tax incidence,” once the GST compensation Cess ends, according to the statement of objects and reasons of the Bill. The Health Security se National Security Cess Bill, 2025, seeks to levy Cess on the production of specified goods like pan masala. The Government may …

Centre to bring new levies on tobacco, pan masala as GST compensation cess set to lapse | Business News

Centre to bring new levies on tobacco, pan masala as GST compensation cess set to lapse | Business News

Published by Parlour News

The central government is going to introduce two legislative bills in Parliament on Monday to bring in higher excise levy on tobacco and related products, and a new cess called ‘Health Security se National Security Cess’ on pan masala, as the compensation cess levied under the Goods and Services Tax (GST) regime is set to end. The legislative changes will be carried out through The Central Excise (Amendment) Bill, 2025 and The Health Security se National Security Cess Bill, 2025 The excise duty will be hiked on tobacco and related products by Centre through an amendment to the Central Excise Act, 1944 to maintain the tax incidence after the end of the GST compensation cess, while the new Health Security se National Security Cess is going to be levied on pan masala, or any other goods that the government may notify, to “augment the resources for meeting expenditure on national security and for public health”. Since defence expenditure is likely to go up, the cess levies would be used to fund national security expenses, sources …

ED levies penalty of ₹3.44 crore on BBC India; ₹1.14 crore each on its 3 directors for FEMA violation | Latest News India

ED levies penalty of ₹3.44 crore on BBC India; ₹1.14 crore each on its 3 directors for FEMA violation | Latest News India

Published by Parlour News

The Enforcement Directorate (ED) has levied a penalty on British Broadcasting Corporation (BBC) India and its directors alleging that the company violated India’s foreign funding law by not reducing its foreign funding despite the cap of 26% on digital media organisations, people familiar with the development said on Friday. BBC Headquarters in London.(AP file photo) The company, which was earlier surveyed by the Income Tax department in February 2023, has been fined a total of over ₹3.44 crore, along with a fine of ₹5,000 for every day after October 15, 2021, till the date of compliance. “We have issued an adjudication order on Friday, levying a penalty of ₹3,44,48,850 on BBC WS India, along with a fine of ₹5000 for every day after 15.10.2021 till the date of compliance, for violation of provisions of FEMA (foreign exchange management act), 1999,” said an officer, who asked not to be named. This officer added that “additionally, directors – Giles Antony Hunt, Indu Shekhar Sinha, and Paul Michael Gibbons have each been fined ₹1,14,82,950 for their roles in …

Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards

Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards

Published by Webster

Google Pay is now levying convenience fees on bill payments made via credit and debit cards, according to a report. Until now, the unified payments interface (UPI) platform was charging users Rs. 3 as a service fee on mobile recharges. However, it will now reportedly also levy a charge, in addition to the goods and service tax (GST), on utility bill payments for services such as electricity, piped gas, and water. Google Pay’s Convenience Fees on Bill Payments According to a report by the Economic Times, the Google-owned UPI platform will charge users between 0.5 to 1 percent of the transaction value as a convenience fee, along with applicable GST on utility bill payments. It is reportedly labelled as a “processing fee” for debit and credit card transactions. With this move, Google Pay has followed in the footsteps of other UPI platforms such as Paytm and PhonePe. While the former levies a charge between Rs. 1 to Rs. 40, the latter charges the same as Google Pay on bill payments via debit and credit cards. …

How Online Gaming Companies are Adapting to Government Levies

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The online gaming industry has grown exponentially over the past decade, evolving from a niche hobby into a mainstream entertainment juggernaut. With millions of players logging in daily, learning online games like card games every day, and understanding how to play rummy games, a card game loved in the Indian market, the financial stakes and reach have never been higher. However, this booming industry now faces a formidable challenge: adapting to new tax regulations implemented by governments nationwide. The Taxation Landscape Following the introduction of new GST rules in October 2023, large online gaming companies took on the additional tax burden to shield their players and sustain growth rates. This strategy, while effective in maintaining user engagement and growth, led to thinner profit margins. Consequently, smaller gaming companies, unable to absorb the increased costs, faced layoffs and closures. Meanwhile, Google’s move to allow skill-based real money games like rummy games, poker games, etc., on its app store has expanded the market reach, offering these games to a broader audience and providing a boost to the …

India raises windfall tax on crude oil to Rs 2,300; eases levies on diesel

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The Union government of India has increased the windfall tax on petroleum crude oil from Rs 1,300 to Rs 2,300 per tonne, stated media reports. According to the reports, in contrast, the tax on diesel has been eliminated with the removal of a one-rupee-per-litre windfall tax on aviation fuel. This modification follows earlier impositions in July 2022, when a windfall tax was imposed on crude oil producers, extending to petrol, diesel and aviation fuel exports. Rather than selling domestically, private refiners sought global markets to capitalise on high refining margins. The revision intends to regulate fuel taxes while balancing the interests of numerous stakeholders. The tax changes are projected to have an impact on India`s petroleum industry and allied sectors. Reportedly, windfall tax is levied on domestic crude oil if the rates of the global benchmark rise above USD 75 per barrel. Export of diesel, petrol and aviation fuel attract the levy if product margins–the difference between crude oil and finished petroleum products–go above USD 20 per barrel. The taxes are usually reviewed fortnightly based …