Excise duty on petrol and diesel was on Saturday, 14 March, hiked by Rs 3 per litre as the government looked to reap the gains arising from fall in international oil prices.
Special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre in case of petrol and to Rs 4 in case of diesel, an official notification said.
Additionally, road cess was raised by Rs 1 per litre each on petrol and diesel to Rs 10.
The increase in excise duty would, in normal course, result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would be necessitated because of the slump in international oil prices.
Congress Slams Move
Slamming the Modi government’s decision to hike the excise duty on petrol and diesel, the Congress has demanded that both petrol and diesel be brought under the ambit of the Goods and Services Tax (GST).
The Modi-Shah govt has looted the people by increasing excise duties and huge taxes on petroleum products and did not bring this under GST despite the consistent demand of Congress Party: @ajaymaken #TheGreatBJPLoot
— Congress Live (@INCIndiaLive) March 14, 2020
(With inputs from PTI)
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