Wednesday, March 3, 2021
Home Latest india news Centre hikes excise duty on petrol, diesel by Rs 3 each

Centre hikes excise duty on petrol, diesel by Rs 3 each

The Central government hiked the excise duty on petrol and diesel was on Saturday by Rs 3 per litre in a move to mop up gains arising from fall in oil prices globally.

Central Board of Indirect Taxes and Customs (CBIC) has notified the additional excise duty on petrol and diesel by Rs 1 each and special additional excise duty on the two fuels by Rs 2 each, effective Saturday.

The increase in excise duty will be adjusted against the fall in rates of international oil prices.

Global crude oil prices had more than halved from January to about $32 a barrel this week, leading to a more than Rs 6 reduction each in retail price of petrol and diesel between 11 January and 14 March.

Most Popular

Hyderabad software engineer stabbed by her stalker for rejecting his proposal

A 29-year-old software engineer was stabbed with a knife on Tuesday night by an alleged stalker in Hyderabad.  The...

DTC approves 300 low-floor AC buses, but all Electric

The Delhi Transport Corporation on Monday approved bids for 300 low-floor air-conditioned e-buses as part of steps taken by Delhi Chief Minister...

Priyanka Gandhi says Congress may not agree 100% with its allies but it is to save Assam

Congress leader Priyanka Gandhi Vadra on Tuesday responded on the Congress’ tie up with Muslim organizations like the All India United Democratic...

Haryana to reserve 75% private sector jobs for locals, governor approves bill

The Haryana Governor on Tuesday approved a bill that reserves 75 percent of the private jobs for the people of the state....