Excise Duty

Wednesday, Apr 24, 2024 | Last Update : 05:10 AM IST

Basic price, which includes the cost of oil plus freight, varies between Rs 52.01 a litre in Chennai to Rs 59.89 in Ladakh. (PTI file photo)

Total tax on petrol down to 50 pc, diesel to 40 pc after duty cuts

The retail price of petrol and diesel is decided after adding central excise, commission paid to dealers and VAT to basic oil prices

07 Nov 2021 1:18 PM

Most Indians were expecting a cut in petrol and diesel prices after international prices fell below USD 35 per barrel earlier this week. (PTI)

WTF: Government raises excise duty on petrol, diesel by Rs 3 per litre

Wait, it won't increase the price you pay at the bunk, but the price cut you were expecting isn't happening

14 Mar 2020 11:35 AM

These charges are taxed multiple times as they are billed in a circuitous manner, said a senior government official. (Representational image)

Govt forms committee to rationalise additional taxes on Aviation Turbine Fuel

Currently, airlines have to pay charges such as 'throughput charges', 'into plane charges' and 'fuel infrastructure charges.'

18 Aug 2019 11:56 AM

Diesel is priced at Rs 64.33 a litre in Delhi and Rs 67.40 per litre in Mumbai. (Photo: Bunny smith)

Budget 2019: Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after FM raises tax

A litre of petrol costs Rs 70.51 in Delhi and Rs 76.15 in Mumbai.

05 Jul 2019 5:08 PM

Fuel prices across the country continued to rise unabated and touched new record levels on Friday despite the central government announcing a Rs 2.50 per litre cut in excise duty recently.

No respite for consumers as fuel prices witness fresh hike

Arun Jaitley had earlier announced a cut of Rs 2.50 per litre on both petrol and diesel prices.

12 Oct 2018 3:16 PM

The central government currently charges 14 per cent excise duty on ATF. (Representational Image)

Excise duty on aviation turbine fuel lowered to 11 per cent

Jet fuel was priced at Rs 47,013 per kl in July last year and has risen by 58.6 per cent since then.

11 Oct 2018 8:54 AM

Fuel-price reduction also highlights the regulatory risks for Indian OMCs as a result of rising crude oil prices and the weakening rupee

Fitch said govt move on fuel prices to impact profitability of OMCs

The government reduced the prices of petrol and diesel by Rs 2.50 per litre on October 4, 2018.

05 Oct 2018 4:43 PM

Finance Minister Arun Jaitley. (Photo: ANI)

Petrol, diesel prices cut by Rs 2.50 after excise reduction; oil cos absorbing Re 1

Excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.

04 Oct 2018 3:49 PM

MEIS duty credit scrip can be transferred or used for payment of a number of duties, including the basic customs duty. (Photo: Pixabay)

Govt hikes duty incentives for exports of 28 milk products

MEIS benefit for certain items have been enhanced to 20 per cent from the current 10 per cent.

29 Sep 2018 10:23 AM

Centre is also failing miserably to get all states to agree for VAT cut on the two petroleum products.

Petrol prices rule high as govt stubborn on fiscal target

Centre collected a staggering Rs 2,29,019 crore as excise revenue from the petroleum sector in FY18.

18 Sep 2018 10:53 AM

Tamil Nadu Chief Minister Edappadi K Palaniswami on Tuesday said that the government is not in a condition to reduce sales tax on fuel.

We are not in a position to reduce sales tax on fuel, says Tamil Nadu CM

He emphasised on the Central Government to reduce the excise duty on fuel products.

11 Sep 2018 1:04 PM

The Centre levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.

Govt rules out excise duty cut as fuel prices hit fresh high

A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.

11 Sep 2018 8:42 AM

Petrol and diesel price were Friday hiked by about 50 paisa per litre each - the steepest increase in rates since daily price revision came into effect over 14 months back - to push rates to their highest ever.

Petrol, diesel price hiked by steepest level in a year; rates at record high

Opposition parties have announced nationwide strikes and protests next week over record-high fuel prices.

07 Sep 2018 6:01 PM

The rising fuel prices have triggered a political debate, with the Congress announcing a nation-wide shutdown on September 10.

Rising fuel prices: TN Govt says onus on Centre to cut taxes

The Centre has said it will not cut excise duty on petrol and diesel to cushion the spiralling prices.

07 Sep 2018 1:59 PM

The government will not cut excise duty on petrol and diesel to cushion spiralling prices, which touched fresh highs on Tuesday, as it has limited fiscal space available to take any dent in revenue collections, a top official said.

Govt rules out excise duty cut as petrol, diesel prices hit fresh high

Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar.

04 Sep 2018 5:46 PM

Under this scheme, the government provides duty credit scrip to exporters. (Photo: AFP)

Govt extends duty benefits for exports of certain dairy, agri products

The duty benefits were enhanced and extended under the Merchandise Export from India Scheme (MEIS).

14 Jul 2018 10:38 AM

Union Minister Arun Jaitley on Monday urged citizens to pay their due share of taxes "honestly" to reduce dependence on oil as a revenue source, and virtually ruled out any cut in excise duty on petrol and diesel saying it could prove to be counter-productive. (Photo: PTI)

Jaitley hints at no cut in excise on oil, appeals to pay taxes honestly

The level of non-oil taxes to GDP at 9.8 per cent in 2017-18 is the highest since 2007-08.

18 Jun 2018 4:09 PM

Reducing taxes is the best solution to check the spurt in fuel prices which would also tremendously help India on the exports front, industry body Assocham said on Friday.

Reduce oil duties to check fuel price rise, says Assocham

Over Rs 19 per litre is added to the cost on account of excise duty levied by the Centre.

08 Jun 2018 12:17 PM

Moody's Investors Service on Thursday said it expects India to stick to the estimated fiscal deficit of 3.3 per cent of GDP and even cut capital expenditure to offset any slippage from the budgeted target. (Photo: AFP)

India may cut expenditure to stick to 3.3 pc fiscal deficit: Moody's

Moody's had last year upped India's sovereign rating for the first time in over 13 years to 'Baa2'.

07 Jun 2018 2:37 PM

Oil Minister Pradhan rules out review of daily fuel pricing

Central govt levies Rs 19.48 excise duty on a litre of petrol and Rs 15.33 on diesel.

04 Jun 2018 4:40 PM

1 of 3

Columns

Sanjeev Ahluwalia

excise duty