| News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CESS/Surcharge on Petroleum Products |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1-4-2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Government is collecting taxes through cess and surcharge on petroleum products in the country. An Additional Duty of Excise @ ₹ 6 per litre is levied and collected on Motor Spirit (Petrol) under section 111 of the Finance (No. 2) Act, 1998. Also, an Additional Duty of Excise @ ₹ 6 per litre is levied and collected, on High Speed Diesel Oil under section 133 of the Finance Act, 1999. In addition, Special Additional Excise Duty @ ₹ 6 per litre is levied and collected on Motor Spirit (Petrol) under section 147 of the Finance Act, 2002. The said duties collected on petroleum products namely Motor Spirit (Petrol) and High Speed Diesel Oil during the last three years, current year and Budget Estimates (BE) for 2017-18 thereof are as under:
The total subsidy/ under recovery on petroleum products since 2013-14 is as under:
This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha . |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
