Excise Duty On Petrol Diesel 2022 : The Modi government at the Center has just deferred the decision to implement excise duty of Rs 2 per liter on petrol and diesel sold without a mixture of ethanol and bio-diesel. The government has taken this step as an exercise to give more time to the industry.
Information issued by the Ministry of Finance
The Union Finance Ministry, in a gazette notification issued late on Friday night, said that the Additional Ecise Duty on petrol will now be applicable from November 1, 2022. At the same time, this duty on diesel will now be applicable from April 1, 2023.
Excise duty levied Rs.2/Lt
Union Finance Minister Nirmala Sitharaman in her budget for the financial year beginning April 2022 had imposed an additional excise duty of Rs 2 per liter on petrol and diesel sold without a blend of ethanol and bio-diesel respectively. . This excise duty was to be applicable from 1 October 2022, but now it has been postponed till 1 November. Whereas for diesel, this decision has been postponed for 6 months.
Preparing to charge extra fees
Let us tell you that the central government was preparing to impose additional duty on non-mix petrol and diesel to promote the sale of fuel containing a mixture of ethanol and bio-diesel. But later it has been decided to extend the deadline.
government promoting
At present, the central government has decided to mix 10 percent ethanol in petrol to reduce the import of crude oil from abroad. This will help in reducing the import of crude oil in the country and increase the income of the farmers. Similarly, bio-diesel is also being mixed with diesel.
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