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Basic excise duty is also known as the Central Value Added Tax (CENVAT). This category of excise duty was levied on goods that were classified under the first schedule of the Central Excise Tariff Act, 1985. This duty was For instance, in Delhi, the base price for a litre of petrol was Rs 29.34 as of February 1, 2021. Oil marketing companies charge the dealer Rs 29.71 a litre. At this point, the Centre levies Rs 32.98 as excise duty.

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Petrol, diesel prices hiked in Delhi as govt raises VAT Excise Duty Collection Jumps 48% This Fiscal on Record Hike in Taxes on Petrol, Diesel. Excise duty collection during April-November 2020 was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up The government had raised excise duty in March when crude oil prices were down. The excise duty on petrol was raised to Rs 32.98 per litre from Rs 19.98 and diesel to Rs 31.83 per litre from Rs 15.83. 2020-05-05 · With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83.

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Excise duty on petrol in india

PTI The Centre on Tuesday evening raised the excise duty on petrol by Rs 10 and on diesel by 13 per litre to recoup some of the loss of revenue suffered by the government due to the Covid-19 lockdown. As of now, a basic excise duty (BED) of Rs 2.98 per litre is levied on petrol, and another Rs 12 a litre is charged as special additional excise duty (SAED) and Rs 18 as road and infrastructure Oil marketing companies charge the dealer Rs 29.71 a litre. At this point, the Centre levies Rs 32.98 as excise duty. Dealers add their commission of Rs 3.69, followed by the state’s VAT or sales tax of Rs 19.92.

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