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Due to higher excise duty on fuel, petrol prices have reached Rs 100 per liter in many cities of India. So far, the government has increased excise many times. Last year, the central government increased excise duty on petrol by Rs 13 per litre, taking it to Rs 32.90 per litre, or 36 per cent of Rs 90.56 per litre retail price in Delhi. 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 32.9 per litre on petrol. The increase in excise 2021-03-03 · 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 32.9 per litre on petrol. 2021-04-22 · Gehlot said that the basic excise duty paid by the government of India is part of the divisible pool paid to the states, which has been reduced continuously from Rs 9.48 to Rs 2.98 on petrol and Rs 11.33 to Rs 4.83 on diesel due to which all the states, including Rajasthan are losing huge revenue.

Law Concerning a Tax on the Use of Automotive Fuel, Jan. The Income Tax Act, 1961, reprinted in J.P. Bhatnagar, All India Taxation Manual (Central Law  Hans erfarenhet omfattar bl.a.

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Excise duty on petrol in india

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Excise duty on petrol in india

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 2021-02-24 · In fact, the central government’s excise duty on petrol has seen a significant hike from Rs 19.28 per litre, at the beginning of 2020, according to a report by The Indian Express. 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. The special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre in case of petrol and to Rs 4 in case of diesel, an official notification said. Road cess on petrol was also raised by Rs 1 A government notification said that the special excise duty on petrol was hiked by Rs 2 per litre to Rs 10 per litre and to Rs 4 per litre for diesel.
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Excise duty on petrol in india

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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 2017-09-09 2020-03-14 2020-05-06 Finmin not for cut in excise duty on petrol, diesel. Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
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According to Indian Oil, the retail selling price of petrol on February 16 was Rs 89.29.