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The government has room to cut excise duty on petrol and diesel by up to Rs 8.5 per litre without impacting its target for revenue from the tax on the two fuels, analysts said. Petrol and diesel prices hover at a historic high following a relentless increase in rates over the past nine months. There have been calls by opposition parties as well as sections of society to the government to reduce excise duty to ease consumer pain. We estimate excise duty on auto fuels in FY22 (April 2021 to March 2022), if it is not cut, at Rs 4.35 lakh crore versus budget estimate of Rs 3.2 lakh crore. ....
Recreational marijuana dispensaries must submit monthly liability reports to ADOR Adult use marijuana dispensaries must remit transaction privilege tax (TPT) and marijuana excise tax (MET) to the Arizona Department of Revenue. (Source: KFVS) By KOLD News 13 Staff | February 23, 2021 at 4:37 PM MST - Updated February 23 at 4:37 PM TUCSON, Ariz. (KOLD News 13) - Now that recreational marijuana can be legally sold in Arizona, licensed establisments must hand over Transaction Privilege Taxes and Marijuana Excise Taxes to the Arizona Department of Revenue. ADOR says licensed businesses must report and remit their tax liability monthly at www.AZTaxes.gov. Dispensaries file a Form MET-1 to report the adult use marijuana excise tax. The form ....