Question

in the budget 2013-2014 the government proposed to raise the excise duty on cement. it also proposed to raise the income tax on individuals earnings more than 1 rupee crore annum.identify and explain the type of taxes proposed by the government

Answer 1

Worried by falling stock prices and plunging sales, cigarette makers are lobbying hard to prevent the government from hiking excise duty for the third straight year. Industry body, The Tobacco Institute of India in its budget submission to the finance ministry has requested the government to maintain the current duty on cigarettes and reduce duty on the smaller size sub-65 mm length filter to Rs 200 per thousand sticks from Rs 669 per thousand cigarettes to allow the industry