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Increase in excise duty on petrol and diesel
Posted on: 07/Nov/2015 12:51:02 PM
Excise duty on petrol has been increased by Rs. 1.60 per litre. The duty on diesel has been increased by 40 paise per litre. The move has been made to augment revenue and meet targets in the budget.
An official CBEC notice said that the excise duty on unbranded or normal petrol has been increased to Rs. 7.06 per litre from Rs. 5.46 per litre. After this move, the total levy on petrol will be Rs. 19.06 per litre. It was previously Rs. 17.46 per litre. The same on diesel has been increased from Rs. 4.26 per litre to Rs. 4.66 per litre. The total levy now becomes Rs. 10.66 per litre from Rs. 10.26 per litre.
On branded petrol, the duty has been increased to Rs. 8.24 per litre from Rs. 6.64 per litre. However, the special and additional excise duty will remain the same at Rs. 12 per litre. Excise duty on branded diesel will be Rs. 7.02 per litre from Rs. 6.62 per litre. Just as in branded petrol, the additional excise duty on branded diesel will remain the same at Rs. 6 per litre.
Excise duty has been increased before 4 times between November and January.
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