Central Excise Duty Slashed

Ms Sitharaman, in a series of tweets, explained that the excise duty component that has been slased not shareable by the state and the Centre bears the full cost.

In a bid to reduce the rising fuel prices, the central government has cut down the central excise duty on petrol by Rs. 8 and diesel by Rs. 6 per litre.

The central government's decision to cut excise duty by reducing local sales tax (VAT) rates was matched by 22 states and Union Territories reducing VAT rates in different proportions.

The government on Saturday slashed the import tariff value of gold at $401 per 10 grams and that of silver to $604 per kg as prices of the precious metals fell in the international market.

Ms Sitharaman, in a series of tweets, explained that the excise duty component that has been slased not shareable by the state and the Centre bears the full cost.

In a bid to reduce the rising fuel prices, the central government has cut down the central excise duty on petrol by Rs. 8 and diesel by Rs. 6 per litre.

The central government's decision to cut excise duty by reducing local sales tax (VAT) rates was matched by 22 states and Union Territories reducing VAT rates in different proportions.

The government on Saturday slashed the import tariff value of gold at $401 per 10 grams and that of silver to $604 per kg as prices of the precious metals fell in the international market.