Decision on excise duty after discussion in JS: Muhith

Finance Minister AMA Muhith today said the decision will be taken regarding bringing any change to the proposed excise duty on bank deposits after discussion in the Jatiya Sangsad (JS).

"Jatiya Sangsad is now discussing the proposed excise duty and on the basis of this discussion, the rate of excise duty is likely to be changed," he told journalists after a meeting of the Cabinet Committee on Government Purchase (CCGP) at the Cabinet Division in the city.

Muhith also said the excise duty on bank accounts is not a new thing as there was such duty before.

During the budget speech on June 1, Finance Minister AMA Muhith proposed imposition of Taka 800 excise duty instead of existing Taka 500 in cases where the balance, whether debit or credit, exceeds Taka 1 lakh but does not exceed the limit of Taka 10 Lakh.

Similarly, Taka 2,500 excise duty will be imposed instead of existing Taka 1,500 in cases where the balance exceeds Taka 10 lakh but does not exceed the limit of Taka 1 crore; Taka 12,000 will be imposed instead of existing Taka 7,500 in cases where the balance exceeds Taka 1 crore but does not exceed the limit of Taka 5 crore and Taka 25,000 will be imposed instead of existing Taka 15,000 in cases where the balance exceeds Taka 5 crore.

Source: BSS