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TMI BlogUnion Budget Focuses on Rationalisation Measures in Indirect Taxes.X X X X Extracts X X X X X X X X Extracts X X X X ..... Union Budget Focuses on Rationalisation Measures in Indirect Taxes. X X X X Extracts X X X X X X X X Extracts X X X X ..... 2012 14:12 IST Union Budget Focuses on Rationalisation Measures in Indirect Taxes Indirect Taxes Result in Net Revenue Gain of Rs. 45,940 Crore Presenting the General Budget for 2012-13 in LokSabha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... today, the Union Finance Minister ShriPranab Mukherjee has announced various rationalization measures like - Excise duty rationalized for packaged cement, whether manufactured by mini-cement plants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or others. - Levy of excise duty of 1 per cent on branded precious metal jewellery to be extended to include unbranded jewellery. Operations simplified and measures taken to minimize impact on small ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artisans and goldsmiths. - Branded Silver jewellery exempted from excise duty. - Chassis for building of commercial vehicle bodies to be charged excise duty at an ad valorem rate instead of mixed ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te. - Import of foreign-going vessels to be exempted from CVD of 5 per cent retrospectively. - Duty-free allowances increased for eligible passengers and children upto 10 years. - Proposals relatin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to Customs and Central excise to result in net revenue gain of Rs.27,280 crore. - Indirect taxes estimated to result in net revenue gain of Rs.45,940 crore. - Net gain of Rs.41,440 crore in the Bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dget due to various taxation proposals.
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