Bowing to public pressure, the government today cut excise duty on petrol and diesel by Rs 2 per litre to moderate the relentless rise in fuel prices witnessed for the last three months."Govt of India has reduced Basic Excise Duty rate on petrol and diesel [both branded and unbranded] by Rs 2 per litre w.e.f. 4th October,2017," the finance ministry said in a … [Read more...] about Govt cuts excise duty on petrol, diesel by Rs 2/litre
Finance Ministry
FinMin dispels concerns over high GST transition credit
The finance ministry today sought to dispel concerns about Rs 65,000 crore transitional credit claims saying that the Centre's revenue kitty will not go down because of these claims.Over 46 lakh businesses have paid taxes to the tune of Rs 95,000 crore in July.However, businesses also claimed credit for past taxes paid in the form of excise and service tax worth Rs … [Read more...] about FinMin dispels concerns over high GST transition credit
CIC orders inquiry in note exchange at post office
The CIC has directed a probe into the exchange of demonetised currency at a post office in Palam here as it emerged from an RTI response that there were prima facie irregularities in the exchange of notes.The apprehensions of wrongdoing were raised by a resident of the Central Government Employees Residents Welfare Association in old Pinto Park.He had sought information … [Read more...] about CIC orders inquiry in note exchange at post office