Mukherjee increases excise duty on oil, tobacco, gold
February 26th, 2010 - 3:46 pm ICT by ANI
New Delhi, Feb 26 (ANI): Union Finance Minister Pranab Mukherjee on Friday announced hike in excise duty for petrol, diesel, cars, TVs, cigarettes, tobacco, air-conditioner, gold and silver which were exempted as part of a stimulus package.
Presenting the budget for the year 2010 -2011, Mukherjee said hike in excise duty is the part of partial roll back of stimulus package.
On the other hand, Mukherjee announced tax concessions for mobile accessories, medical equipments, energy efficient CFL lamps, set top boxes, compact disc, toys and books.
“Symptoms of economic recovery are widespread and more clear now,” Mukherjee said.
In his Budget address, Mukherjee substantially cut income tax rates along with other direct tax concessions that would result in a net loss of Rs 26,000 crore to the exchequer. (ANI)
- Tax hikes to hit household budgets - Apr 01, 2012
- Lok Sabha passes Finance Bill - Apr 29, 2010
- Lok Sabha passes Finance Bill with no change in fuel levies (Roundup) - Apr 29, 2010
- Non-smoker Pranab spares cigarettes from excise hike - Feb 28, 2011
- Experts say excise duty hike was expected - Mar 16, 2012
- India approves Rs.200 crore for research on climate change - Mar 16, 2012
- Car-makers to raise prices after excise duty hike (Lead) - Feb 26, 2010
- Car-makers to raise prices after excise duty hike - Feb 26, 2010
- Gains and losses from Budget 2012-13 - Mar 16, 2012
- For automobile industry, budget is in neutral gear - Feb 28, 2011
- Jewellers resume shutdown in Bengal, demand rollback of excise duty - Mar 29, 2012
- Health budget 'reassuring', welcomed by industry - Mar 16, 2012
- Food processing industry continues to get tax sops - Sep 28, 2010
- Industry chambers hail budget, disappointed at MAT hike - Feb 26, 2010
- ITC evaluates impact of excise duty hike - Feb 26, 2010
Tags: air conditioner, budget address, cigarettes, compact disc, crore, diesel cars, economic recovery, excise duty, gold and silver, income tax rates, lamps, medical equipments, mobile accessories, New Delhi, pranab mukherjee, stimulus package, tax concessions, tobacco, tvs, union finance minister