Excise Duty on Petrol hiked
GOVERNMENT has hiked the excise duty on petrol and diesel with effect from 17th December 2015.
Sl. No. | Chapter or heading or sub-heading or tariff item of the First Schedule | Description of excisable goods | Existing Rate | Rate w.e.f |
(1) | (2) | (3) | (4) | (5) |
70 | 2710 | Motor spirit commonly known as petrol,- | ||
(i) intended for sale without a brand name; | Rs. 7.06 per litre | Rs. 7.36 per litre | ||
(ii) other than those specified at (i) | Rs.8.24per litre | Rs.8.54 per litre | ||
71 | 2710 19 30 | High speed diesel (HSD),- | ||
(i) intended for sale without a brand name; | Rs. 4.66 per litre | Rs. 5.83 per litre | ||
(ii) other than those specified at (i) | Rs. 7.02 per litre | Rs. 8.19 per litre | ||
Retail prices are not going to be affected - only government wants to take advantage of the low crude price, not the refinery, not the consumer.
Notification , Dated: December 16, 2015