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Petrol now cost ₹69.87 a litre in Delhi and a litre of diesel comes for ₹62.58. 2020-03-14 · In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. It cut excise duty by Rs 2 in October 2017 and by Rs 1.50 a year later. News About Excise Duty.

Excise duty on petrol in india

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In all, duty on petrol rate was hiked by ₹11.77 per litre and that on diesel by ₹13.47 a litre in those 15 months that helped government’s excise mop up more than double to ₹2,42,000 crore in The recent excise duty hike of Rs 13 per litre on diesel and Rs 10 per litre on petrol on has made India the country with the highest taxes on fuel. While the government first issued a notification on Monday night to increase road cess on petrol and diesel by Rs 8 per litre, additional excise duty was also hiked by Rs 2 per litre on petrol and Rs 5 per litre on diesel.

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Out of this, a whopping Rs 53.51 is because of VAT (value-added tax) and excise duty. Source: Indian Oil As of now, at 69%, India is charging the highest amount of taxes on Petrol and Diesel among all other countries. Here is how this is all going to affect you as well as your investments.

Basic excise duty is also known as the Central Value Added Tax (CENVAT). This category of excise duty was levied on goods that were classified under the first schedule of the Central Excise Tariff Act, 1985.
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This excise duty hike had reportedly helped the government collect over Rs 2,000 crore. 2021-02-01 · NEW DELHI: Petrol and diesel prices will not be cut as Finance Minister Nirmala Sitharaman ignored calls for a reduction in excise duty rates to help bring down prices from historic high levels.

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Basic Excise Duty. Basic excise duty is also known as the Central Value Added Tax (CENVAT). This category of excise duty was levied on goods that were classified under the first schedule of the Central Excise Tariff Act, 1985.