Govt hikes excise duty on petrol by Rs 1.6 per litre, diesel by 40 paisa

November 07, 2015 09:01

The government tonight hiked excise duty on petrol by Rs 1.60 per litre and the same on diesel by 40 paisa a litre to mop up additional revenue to meet budgetary targets.

The basic excise duty on unbranded or normal petrol was increased from Rs 5.46 per litre to Rs 7.06 a litre, according to a CBEC notification. After including additional and special excise duty, the total levy on petrol will be Rs 19.06 per litre as against present levy of Rs 17.46. Similarly on unbranded or normal diesel, excise duty has been increased from Rs 4.26 per litre to Rs 4.66 a litre.

After including special excise duty, total incidence of excise duty on diesel will be Rs 10.66 per litre as against present Rs 10.26. The excise duty on branded petrol has been hiked from Rs 6.64 to Rs 8.24 per lire.

Special and additional excise duty of Rs 12 per litre will continue as before. On branded diesel, excise duty has been increased from Rs 6.62 to Rs 7.02 per litre. Additional excise duty of Rs 6 per litre will continue as before.

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