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This represents a 142 per cent increase in duty on Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.Special excise duty on petrol was hiked The excise duty on petrol increased from Rs 9.48 per litre to a high of Rs 21.48 per litre by January 2016. In October 2017, the excise duty on petrol was reduced by Rs 2 per litre, the first such Excise duty The excise duty levied on normal petrol is Rs 19.48, while on branded petrol, it is Rs 20.66. For regular high-speed diesel, the excise duty is Rs 15.33, and for branded high-speed diesel, it is Rs 17.69. Basic Excise Duty- Sometimes referred to as Central Value Added Tax (CENVAT), this type of excise duty is imposed on goods classified under the first schedule of the Central Excise Tariff Act, 1985. This duty is imposed under Section 3(1) (a) of the Central Excise Act, 1944 and levied on all excisable goods in the country except salt. This is the second hike in excise duty on fuel in two months by the Centre and comes after a hike in value added tax by several states over the last few days. A government notification said the special excise duty on petrol was hiked by Rs 2 a litre to Rs 12 a litre and by Rs 5 a litre to Rs 9 a litre for diesel.

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UPDATED ON MAY 05, 2020 11:59 PM IST. The Centre on Tuesday evening raised the excise duty on petrol by Rs 10 and on diesel by 13 per litre to recoup some of the loss of revenue suffered by the Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020, and now stands at Rs 31.8 on diesel and Rs 3.. The excise duty on diesel is now Rs 31.83 and on petrol Rs 32.98 in 2020.

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True IN Intia Indien India 2017-01-01T00:00:00Z 2099-12-31T00:00:00Z True IO Document for movements of excise goods under suspension of excise duty Goods other than those described in Annex VI (Petroleum products) of Reg. The design of the tax should also consider the risk of hazardous chemicals being 23Petroleum och kolbaserade ämnen hade tagits med utifrån att ämnena market-moving information on petroleum and petrochemical products, LDPE (Milk Pouch, General Purpose, Heavy Duty and Injection grades) and about CFR Far East Asia, CFR South East Asia and CIF India Prices, Saudi and matters related to Service Tax, Excise, Income Tax or Customs. legal adviser, independent financial adviser, or tax adviser for legal, financial or tax advice. marine fuel) spills and other pollution incidents. While However, the Covid-19 pandemic has significantly decreased Indian coal. av P Kågeson · Citerat av 1 — regulation is particularly strong when tax resistance makes it difficult or impossible to raise fuel taxes.

A government notification said the special excise duty on petrol was hiked by Rs 2 a litre to Rs 12 a litre and by Rs 5 a litre to Rs 9 a litre for diesel. Road cess on both petrol and diesel has also been increased by Rs 8 a litre to Rs 18 a litre. Petrol, diesel prices hiked in Delhi as govt raises VAT Excise Duty Collection Jumps 48% This Fiscal on Record Hike in Taxes on Petrol, Diesel. Excise duty collection during April-November 2020 was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up The government had raised excise duty in March when crude oil prices were down. The excise duty on petrol was raised to Rs 32.98 per litre from Rs 19.98 and diesel to Rs 31.83 per litre from Rs 15.83. 2020-05-05 · With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83. Dharmendra Pradhan on Wednesday ruled out any cut in excise duty.
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Similarly, the present excise duty on diesel is ₹31.83 which has increased by 894% more than ₹3.56, when UPA-2 remitted office. The excise duty on unbranded petrol was Rs 9.48 per litre on the same date. Since then, it has been revised 11 times during the last 3 years. From Rs 3.56 per litre, the excise duty on diesel increased to Rs 17.33 per litre, an increase of over 380% in 3 years. In the case of petrol, it increased from Rs 9.48 per litre to 21.48 per litre.

Petrol, diesel prices hiked in Delhi as govt raises VAT Excise Duty Collection Jumps 48% This Fiscal on Record Hike in Taxes on Petrol, Diesel. Excise duty collection during April-November 2020 was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up The government had raised excise duty in March when crude oil prices were down. The excise duty on petrol was raised to Rs 32.98 per litre from Rs 19.98 and diesel to Rs 31.83 per litre from Rs 15.83. 2020-05-05 · With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83.
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Here is how this is all going to affect you as well as your investments. Oil companies took the blow. The Oil Marketing Companies (OMCs) such as IOCL, HPCL, BPCL etc have agreed to foot the increase on the excise duty. 2020-03-14 2021-04-12 Since 2014, duties on petrol and diesel have been increased 11 times.

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2020-03-14 2021-04-12 Since 2014, duties on petrol and diesel have been increased 11 times. A reduction has occurred only twice. Following Friday's notification, the excise duty on petrol will now go up to Rs 22.98 per The cash-strapped Central government has been consistent in hiking the excise duties on the fuels. In 2014, the excise duty on per litre of petrol and diesel were Rs 9.48 and Rs 3.56 respectively. This has risen to Rs 32 per litre for petrol and Rs 31.83 for diesel (a hike of around 137 per cent). 2020-03-14 According to Indian Oil, the retail selling price of petrol on February 16 was Rs 89.29.