VAT – The News Insight https://enewsinsight.com English Fortnightly. Daily Epaper. 100-Word Edit. Fact Check. Voice of Social Media. Thu, 07 Jan 2016 05:46:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.5 https://enewsinsight.com/wp-content/uploads/2019/06/cropped-TNI-32x32.png VAT – The News Insight https://enewsinsight.com 32 32 Odisha government hikes VAT on petrol, diesel https://enewsinsight.com/odisha-government-hikes-vat-on-petrol-diesel/ Thu, 07 Jan 2016 05:46:06 +0000 http://www.enewsinsight.com/?p=20495 The Odisha government on Tuesday increased by 3 percent the Value Added Tax (VAT) on petrol and diesel inviting strong criticism from the opposition parties and the common people. With this hike, the price of petrol has gone up by Rs.1.39 to Rs.59.96 per litre, while the price of diesel has been increased by Rs.1.14 […]

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The Odisha government on Tuesday increased by 3 percent the Value Added Tax (VAT) on petrol and diesel inviting strong criticism from the opposition parties and the common people.

With this hike, the price of petrol has gone up by Rs.1.39 to Rs.59.96 per litre, while the price of diesel has been increased by Rs.1.14 to Rs.49.8 per litre.

The state government increased the tax from existing 23 percent to 26 percent to mop up more revenue, said Finance Minister Pradip Kumar Amat.

“By increasing the VAT by 3 percent on petrol and diesel, the state government will get additional revenue of Rs.361 crore per year. It would get Rs.90 crore additional revenue in the next three months during the current fiscal,” said Amat.

He said the central government is hiking tax on the petroleum products to generate more revenue when the price of the product is decreasing in the international market.

“We have hiked the price of petrol and diesel to keep a balance in revenue collection,” said Amat.

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India News At 11 AM @ July 6 https://enewsinsight.com/india-news-at-11-am-july-6/ Sun, 06 Jul 2014 05:53:57 +0000 http://www.enewsinsight.com/?p=17181 1) At least 200 Indians arrived in India from Iraq this morning. 400 more people will return home over the next 48 hours, as the situation has gone out of control in the strife-torn Iraq. 2) As the BJP is reluctant to confer the Opposition Party status on the Congress in Lok Sabha, the grand […]

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1) At least 200 Indians arrived in India from Iraq this morning. 400 more people will return home over the next 48 hours, as the situation has gone out of control in the strife-torn Iraq.

2) As the BJP is reluctant to confer the Opposition Party status on the Congress in Lok Sabha, the grand old party has threatened to move the court to seek justice. With just 44 MPs, the Congress falls short of the 10 percent mark — 55 members in the 545-member House.

3) RJD supremo Lalu Prasad Yadav has hinted at an alliance with Nitish Kumar’s JD(U) in the 2015 assembly polls in Bihar to keep the BJP at bay.

4) The Central Board of Direct Taxes (CBDT) has made mobile number and email address mandatory for filing income-tax returns, in order to improve efficiency and more security to the e-filing system.

5) Union Health Minister Harsh Vardhan has requested the Finance Minister to increase the VAT on Tobacco to 50 per cent so that people are discouraged to smoke cigarettes.

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