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Sree Vijaykumar
Sree Vijaykumar
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Budget 2018: Excise duty cut on petrol & diesel to assuage industry concerns; No change in prices for consumers
Even as the petroleum sector stays outside the GST regime, the government in the Union Budget 2018 tried to pacify the problems of the industry by reducing the excise duty on petrol and diesel by Rs 2 per litre.

However, the reduction in excise duty will not result in an additional burden on the government, as it has proposed a levy of road and infrastructure cess of Rs 8 per litre, although the additional excise duty of Rs 6 per litre has been removed.

The basic excise duty on both branded and unbranded petrol was slashed by Rs 2. For unbranded petrol it was reduced to 4.48 per litre and on branded petrol to Rs 5.66 per litre. Similarly on unbranded diesel, additional excise duty was brought down to Rs 6.33 per litre and on branded diesel to Rs 8.69 per litre. Read More

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