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IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL

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Dated: 1-2-2021

Budget 2021-22 + FINANCE Bill, 2021

IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL

An Agriculture Infrastructure and Development Cess (AIDC) as an additional duty of excise has been proposed on Petrol and High speed diesel vide Clause [116] of the Finance Bill, 2021. This cess shall be used to finance the improvement of agriculture infrastructure and other development expenditure. The details of the cess are as under:

S. No.

Commodity

Rate of AIDC [Clause [116] of the Finance Bill, 2021]*

1

Motor spirit commonly known as petrol

₹ 2.5 per litre

2

High speed diesel

₹ 4 per litre

*Will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.

 


Full Text:

Budget 2021-22 + FINANCE Bill, 2021

 

 
 
 
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