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Central government examining production tax rise for diesel oil?
Posted on: 20/Sep/2014 3:38:24 PM
Central government has been examining the possibilities of increasing the production tax on diesel oil. It has sought the opinions & suggestions on this issue from the ministry of petroleum.
As an aftermath of the reduction of crude oil prices in the international market, Oil Corporations have started earning profits after quite a long time. Presently, they earn a profit of Rs. 0.35 (35 paise) per litre.
Subsequently, the central government has started examining the possibilities of increasing the production tax on non-commercial purposes. Presently, ales of non-commercial diesel has a production tax of Rs. 3.46 per litre. However, the sales of diesel for commercial fronts has a production tax of Rs. Rs. 5.75 per litre.
The central government is intestate d in. balancing this difference.
