Showing posts with label Excise duty. Show all posts
Showing posts with label Excise duty. Show all posts

Wednesday, April 1, 2015

CAG raps Odisha government for laxity in revenue collection

"Test check of records of 174 units relating to Odisha Sales Tax/Value Added Tax, Goods and Passengers Tax, Excise Duty... and other non-tax receipts conducted during 2013-14 showed under assessment/short levy/loss of revenue aggregating Rs 4,713.63 crore in 5,10,147 cases," said a CAG report on Revenue Sector tabled in the state Assembly.
  
Departments concerned have accepted under assessment and other deficiencies of Rs 2,379.41 crore involved in 3,98,229 cases, which were pointed out in audit during 2013-14 and collected Rs 4.73 crore in 268 cases pertaining to audit findings of 2013-14 and previous year, it said.
  
Similarly, test check of records of 170 units under Commercial Tax, Excise, Revenue and Disaster Management, Transport and Steel and Mines departments conducted during the year showed irregular expenditure/payment amounting to Rs 20.15 crore in 806 cases, said the CAG report for the year ended March, 2014.
  
During the course of the year, departments concerned accepted irregularities of Rs 16.51 crore involved in 748 cases, which were pointed out in audit in 2013-14 and collected Rs 18.70 lakh in 96 cases pertaining to the previous year, it said.



Tuesday, January 13, 2015

Mercedes-Benz to hike prices by 4 percent from next week in India

"The end of excise duty cut on December 31, 2014 was instrumental in the price revision of Mercedes-Benz products," the company said in a statement.
  
Mercedes-Benz sells a range of products in India – from luxury hatchback A-Class priced at Rs 26 lakh to sedan S 500 priced at Rs 1.44 crore (both ex-showroom Delhi).
  
Besides, it also sells the AMG range - starting with CLA 45 AMG at Rs 68.5 lakh to G63 AMG priced at Rs 1.8 crore.
  
Commenting on the price hike, Mercedes-Benz India Managing Director & CEO Eberhard Kern said: "The excise duty cut was of much relief to the automotive sector in general and luxury cars, in particular.

However, the end of excise benefit left us with no option but to pass on the additional cost to our customers."