Kathmandu, April 7 (IANS) The new government in Nepal on Tuesday decided to provide partial tax exemptions on petroleum products in a move to ease the financial burden on consumers, mirroring a similar decision by the Indian government. A Cabinet meeting held on Tuesday approved a 50 per cent exemption on customs duties and infrastructure tax imposed on petrol, diesel, and kerosene, Minister for Federal Affairs and General Administration Pratibha Rawal told journalists. “The decision will be p…
Latest Value Added Tax (VAT) News & Updates
New Delhi, March 27 (IANS) BJP MPs Anurag Thakur and Hema Malini on Friday welcomed the central government’s decision to slash excise duties on petrol and diesel by Rs 10 per litre each, bringing them down to Rs 3 per litre for petrol and zero for diesel, in a move aimed at cushioning the impact of surging global oil prices.The reduction comes amid fears of a price hike due to the global energy crisis, triggered by the US-Israel conflict with Iran and the resultant blockade of the Strait of Horm…