Excise duty hiked on Petrol & High Speed Diesel… again
THE Central Government has again increased the Excise duty on Motor Spirit (Petrol) & High Speed Diesel by Rs.2/- per litre with effect from today. This is the third hike in two months.
Sl. No. | heading | Description of excisable goods | Rate from | Rate from 02.12.2014 | Rate from 02.01.2015 | Condition No. |
|---|---|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) | ||
70 | 2710 | Motor spirit commonly known as petrol,- (i) intended for sale without a brand name; (ii) other than those specified at (i) | Rs.2.70 per litre Rs.3.85 per litre | Rs.4.95 per litre Rs.6.10 per litre | Rs.6.95 per litre Rs.8.10 per litre | - - |
71 | 2710 19 30 | High speed diesel (HSD),- (i) intended for sale without a brand name; (ii) other than those specified at (i) | Rs.2.96 per litre Rs.5.25 per litre | Rs.3.96 per litre Rs.6.25 per litre | Rs.5.96 per litre Rs.8.25 per litre | - - |
This hike is not to inflate the sagging excise revenue collections. This hike is in order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and next financial year. Government believes that allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector.
Notification No. , Dated: January 01, 2015