The motorists were left in shock as the government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue.
The motorists were left in shock as the government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue.
According to a notification issued by the Central Board of Indirect Taxes and Customs, special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre in case of petrol and to Rs 4 a litre from Rs 2 in case of diesel. Additionally road cess was raised by Re 1 per litre each on petrol and diesel to Rs 10.
Government sources said that while the benefit of reduction of crude prices in the first quarter of this year has significantly gone to the consumer, the Centre has taken this step of increasing duty to raise some revenue in view of a tight fiscal situation.
While it was expected that following benchmark price drop of crude oil, the government would announce further price reduction for petrol and diesel, to the contrary the increase in excise duty has certainly irked the consumers.
According to a notification issued by the Central Board of Indirect Taxes and Customs, special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre in case of petrol and to Rs 4 a litre from Rs 2 in case of diesel. Additionally road cess was raised by Re 1 per litre each on petrol and diesel to Rs 10.
Government sources said that while the benefit of reduction of crude prices in the first quarter of this year has significantly gone to the consumer, the Centre has taken this step of increasing duty to raise some revenue in view of a tight fiscal situation.
While it was expected that following benchmark price drop of crude oil, the government would announce further price reduction for petrol and diesel, to the contrary the increase in excise duty has certainly irked the consumers.