Excise Duty | The Asian Age

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States get Rs 456 crore revenue per day from auto fuel.

Centre earns Rs 665 crore a day from excise on oil

Excise duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre since Nov 2014.

30 May 2018 9:49 AM

The government on Wednesday said it is working on a long-term solution to address the volatility and frequent revisions in rates.

Govt working on long-term solution to fuel prices, says Prasad

The 10-day relentless price increases built pressure on the government for cutting excise duty to give immediate relief to consumers.

23 May 2018 7:38 PM

Amid rising criticism over steep hike in fuel prices, senior Congress leader P Chidambaram on Wednesday claimed it was possible to cut up to Rs 25 per litre in petrol prices but the government will not do so. (Photo: PTI)

Govt can reduce petrol price up to Rs 25 but won't do, says Chidambaram

In a series of tweets, the former finance minister said the bonanza to central government is Rs 25 on every litre of petrol.

23 May 2018 1:16 PM

The government is likely to come out with "some steps" this week to deal with record high petrol and diesel rates.

Steps to deal with rising petrol, diesel prices likely this week

The prices in Delhi are the cheapest among all metros and most state capitals.

22 May 2018 4:26 PM

Industry seeks cut in fuel excise duty as oil prices zoom

India Inc on Monday urged the government to cut excise duty on petrol and diesel immediately.

21 May 2018 2:24 PM

Diversified ITC Ltd on Wednesday reported a 9.86 per cent increase in standalone net profit at Rs 2,932.71 crore for the fourth quarter ended March 31, 2018.

ITC Q4 net profit up 9.8 per cent to Rs 2,933 crore

The board has also recommended a dividend of Rs 5.15 per ordinary share of Re 1 each for 2017-18.

16 May 2018 2:48 PM

The duty cut may be restored if crude and product prices fell subsequently and remained low for a longer period.

Centre may cut excise duty on petrol, diesel

Government faced strong criticism for holding on to higher duty on petrol and diesel to meet revenue.

14 May 2018 9:17 AM

Andhra Pradesh Chief Minister N Chandrababu Naidu has asked Central government to cut excise duty on the fuels to ease the burden on people.

Chandrababu Naidu asks Centre to cut excise on petrol, diesel

Naidu said the Centre had between November 2014 and January 2016 hiked excise duty on petrol and diesel nine times.

11 May 2018 4:27 PM

The government is not considering cutting excise duty on petrol and diesel yet as rates have not touched levels that could trigger such an action, said Economic Affairs Secretary Subhash Chandra Garg.

No excise duty cut on petrol, diesel for now, says DEA Secretary

State oil firms have not revised petrol and diesel price for almost a week now.

30 Apr 2018 5:54 PM

Petrol price on Monday hit a 55-month high of Rs 74.50 a litre and diesel prices touched a record Rs 65.75 per litre.

FM won’t favour cut in fuel duty

There has been growing demand to cut excise duty to provide some relief to the general public reeling under high fuel prices.

24 Apr 2018 1:18 AM

The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel.

Finance ministry not for cut in excise duty on petrol, diesel

Petrol price on Monday hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75.

23 Apr 2018 3:38 PM

Petrol price today hit Rs 74.40 a litre - the highest level under the BJP-led government, while diesel rates touched a record high of Rs 65.65.

Petrol price hit highest level under BJP govt, diesel at record peak

The hike, necessitated due to firming international oil prices.

22 Apr 2018 11:15 AM

Companies are fixing the fuel prices on the basis of international oil prices.

Govt’s tacit diktat: Petrol price shouldn’t breach Rs 75 in Delhi

In all, Rs 11.77 hiked duty on petrol per litre and that on diesel by 13.47 a litre.

13 Apr 2018 9:22 AM

Petrol and diesel account for about half of India’s refined fuel consumption.

India's oil ministry seeks cut in excise duty on petrol, diesel in budget

A litre of petrol costs 72.23 rupees while diesel is sold at 63.01 rupees.

23 Jan 2018 11:18 AM

Prices have been on the rise since December 12, 2017.

Diesel prices at record Rs 61.74 per litre, petrol crosses Rs 71 per litre

Petrol price rose to Rs 71.18 per litre in Delhi on Monday, the highest since August 2014.

15 Jan 2018 5:16 PM

Over the past three months, crude oil prices have increased by about 28 per cent from USD 52.3 per barrel in August-end.

Govt under pressure to cut excise duty on auto fuels: Icra

Brent prices have jumped 40 per cent to around USD 67 per barrel this month from USD 48 in November 2016.

29 Dec 2017 3:44 PM

Excise duty cut cost government Rs 26,000 crore in annual revenue.

Govt non-committal on cutting excise duty on petrol, diesel

After the cut, petrol price came down to Rs 68.38 per litre and diesel to Rs 56.89 in Delhi on October 4.

09 Nov 2017 7:41 PM

Niti Aayog vice chairman Rajiv Kumar. (Photo: PTI)

Excise duty cut to spur demand, jobs: Rajiv Kumar

Government on Tuesday cut excise duty on petrol and diesel by Rs 2 per litre.

05 Oct 2017 9:42 AM

Excise duty cut would cost govt Rs 26,000 crore in annual revenue and about Rs 13,000 crore during the remaining part of the current fiscal year.

Petrol price down Rs 2.5 a litre, diesel by Rs 2.25

On petrol, excise has been cut to Rs 19.48 per litre from Rs 21.48 per litre and on diesel to Rs 15.33 a litre from Rs 17.33 previously.

04 Oct 2017 2:04 PM

Arun Jaitley says cut excise was done with an aim to protect interests of common man.

Petrol, diesel to go cheaper as excise duty cut by Rs 2 a litre

Cut in excise on diesel and petrol will cost government an additional burden of Rs 26,000 crore in a full year.

03 Oct 2017 7:48 PM

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