Excise Duty On Oil
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Centre Scraps Windfall Profit Tax On Crude Oil, Petrol, Diesel Exports
The notification rescinded the June 2022 order and withdrew a levy of special additional excise duty (SAED) on the production of crude oil.
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Finance Ministry Considers Cutting Taxes On Petrol, Diesel: Report
The Finance Ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at fuel stations. But taxes and duties account for roughly 6...
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Petrol And Diesel Prices Increased By 35 Paise; Rates Clock New High In Delhi
The perpetual hike in fuel prices is primarily attributed to the soaring rates of Brent crude oil. On Monday, Brent crude oil prices for April delivery reached $60 per barrel which is the highest in a year.
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Tax Cut By Government Can Help Says Oil Companies As Petrol, Diesel Hit New All-Time High
In the national capital, petrol is priced at an all-time high of Rs. 86.95 per litre, while diesel costs Rs. 77.13 per litre.
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Excise Duty Hiked On Petrol By Rs. 10 Per Litre, Diesel By Rs. 13
The Indian government on Tuesday raised the excise duty on the petrol and diesel to reap the extra revenue by not passing on gains from a slump for oil prices in the international market. According to the report from PTI, the government increased the excise duty on petrol by a record Rs. 10 per litre and Rs. 13 per litre on diesel. As per the indus...
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Excise Duty On Petrol Hiked By Rs 10 Per Litre, Diesel By Rs 13; Retail Prices Unchanged
The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices.
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Coronavirus Pandemic: Government To Increase Excise Duty on Petrol, Diesel To Increase By Up To Rs. 8 Per Litre
Notably, Rs. 8 per litre hike would be a great move for the government as it would increase its annual excise collection from the sector to Rs. 1,20,000 crore. The increase in petroleum products along with saving over $15-20 billion in oil import bill in the financial year 2021 will ensure enough boost to bring the economy back on the track after n...
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Government Raises Excise Duty On Petrol, Diesel By Rs 3 Per Litre
The government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue as it repeated its 2014-15 act of not passing on gains arising from slump in international oil prices.
-
Union Budget 2019: Petrol, Diesel To Be Costlier Thanks To Additional Excise And Road Cess Charges
The Finance Minister raised special additional excise duty and road cess on petrol and diesel by Re 1 per litre each, saying lower crude oil prices provide her with an opportunity to review taxes on the sector.
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Can't Solve Oil Price Rise With Tweets: Arun Jaitley's Dig At Opposition
Finance Minister Arun Jaitley has taken a swipe at the opposition over its math on runaway fuel price rise. In a post on Facebook, Mr Jaitley linked the weakening rupee and widening current account deficit or CAD to high international price of crude oil. "The challenges thrown up by the increase in the international price of crude oil cannot be res...
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Petrol, Diesel Rates Slashed By Rs. 2.50; Price In Maharashtra And Gujarat Cut By Rs. 5
The government on Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty by Rs 1.50 a litre and asked oil companies to absorb another Re 1.
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Centre Cuts Fuel Prices By Rs 2.50, Congress Calls It "Panic Reaction"
Finance Minister Arun Jaitley today announced marginal relief for citizens from runaway fuel prices with excise duty cut of Rs 1.50 and another Re 1 drop by oil marketing companies, taking the cut in fuel prices to Rs 2.50. He blamed rising crude oil prices in the international markets for the rise in fuel prices in India.
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Amid Rising Fuel Prices, Government Non-Committal On Excise Duty Cut
Finance Minister Arun Jaitley Wednesday remained non-committal on cutting excise duty to cushion spiralling petrol and diesel prices, which touched an all-time high, saying international oil prices are volatile and have not shown any linear movement.
-
Petrol And Diesel Prices Hiked Yet Again
The surge in fuel prices is largely due to rise in the cost of crude oil and high excise duty levied on transportation fuel in the country.
-
Excise Duty Cuts Have No Effect On Petrol, Diesel Prices
Global crude oil prices are driving petrol and diesel rates, say experts
-
Centre Scraps Windfall Profit Tax On Crude Oil, Petrol, Diesel Exports
The notification rescinded the June 2022 order and withdrew a levy of special additional excise duty (SAED) on the production of crude oil.
-
Finance Ministry Considers Cutting Taxes On Petrol, Diesel: Report
The Finance Ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at fuel stations. But taxes and duties account for roughly 6...
-
Petrol And Diesel Prices Increased By 35 Paise; Rates Clock New High In Delhi
The perpetual hike in fuel prices is primarily attributed to the soaring rates of Brent crude oil. On Monday, Brent crude oil prices for April delivery reached $60 per barrel which is the highest in a year.
-
Tax Cut By Government Can Help Says Oil Companies As Petrol, Diesel Hit New All-Time High
In the national capital, petrol is priced at an all-time high of Rs. 86.95 per litre, while diesel costs Rs. 77.13 per litre.
-
Excise Duty Hiked On Petrol By Rs. 10 Per Litre, Diesel By Rs. 13
The Indian government on Tuesday raised the excise duty on the petrol and diesel to reap the extra revenue by not passing on gains from a slump for oil prices in the international market. According to the report from PTI, the government increased the excise duty on petrol by a record Rs. 10 per litre and Rs. 13 per litre on diesel. As per the indus...
-
Excise Duty On Petrol Hiked By Rs 10 Per Litre, Diesel By Rs 13; Retail Prices Unchanged
The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices.
-
Coronavirus Pandemic: Government To Increase Excise Duty on Petrol, Diesel To Increase By Up To Rs. 8 Per Litre
Notably, Rs. 8 per litre hike would be a great move for the government as it would increase its annual excise collection from the sector to Rs. 1,20,000 crore. The increase in petroleum products along with saving over $15-20 billion in oil import bill in the financial year 2021 will ensure enough boost to bring the economy back on the track after n...
-
Government Raises Excise Duty On Petrol, Diesel By Rs 3 Per Litre
The government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue as it repeated its 2014-15 act of not passing on gains arising from slump in international oil prices.
-
Union Budget 2019: Petrol, Diesel To Be Costlier Thanks To Additional Excise And Road Cess Charges
The Finance Minister raised special additional excise duty and road cess on petrol and diesel by Re 1 per litre each, saying lower crude oil prices provide her with an opportunity to review taxes on the sector.
-
Can't Solve Oil Price Rise With Tweets: Arun Jaitley's Dig At Opposition
Finance Minister Arun Jaitley has taken a swipe at the opposition over its math on runaway fuel price rise. In a post on Facebook, Mr Jaitley linked the weakening rupee and widening current account deficit or CAD to high international price of crude oil. "The challenges thrown up by the increase in the international price of crude oil cannot be res...
-
Petrol, Diesel Rates Slashed By Rs. 2.50; Price In Maharashtra And Gujarat Cut By Rs. 5
The government on Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty by Rs 1.50 a litre and asked oil companies to absorb another Re 1.
-
Centre Cuts Fuel Prices By Rs 2.50, Congress Calls It "Panic Reaction"
Finance Minister Arun Jaitley today announced marginal relief for citizens from runaway fuel prices with excise duty cut of Rs 1.50 and another Re 1 drop by oil marketing companies, taking the cut in fuel prices to Rs 2.50. He blamed rising crude oil prices in the international markets for the rise in fuel prices in India.
-
Amid Rising Fuel Prices, Government Non-Committal On Excise Duty Cut
Finance Minister Arun Jaitley Wednesday remained non-committal on cutting excise duty to cushion spiralling petrol and diesel prices, which touched an all-time high, saying international oil prices are volatile and have not shown any linear movement.
-
Petrol And Diesel Prices Hiked Yet Again
The surge in fuel prices is largely due to rise in the cost of crude oil and high excise duty levied on transportation fuel in the country.
-
Excise Duty Cuts Have No Effect On Petrol, Diesel Prices
Global crude oil prices are driving petrol and diesel rates, say experts
