Special Additional Excise News Today

Union Finance Minister Nirmala Sitharaman on Sunday clarified that the entire cost of the reduction in excise duty on petrol and diesel is borne by the Central government and the states revenue wont be impacted by the move.

Taking to Twitter, Sitharaman said she is sharing some useful facts on levies on petrol and diesel for the benefit of all.

Ms Sitharaman, in a series of tweets, explained that the excise duty component that has been slased not shareable by the state and the Centre bears the full cost.

New Delhi, May 22 (PTI): Finance Minister Nirmala Sitharaman on Sunday rebutted the Opposition's criticism of excise duty cut impacting share of states in

Petrol diesel prices, Nirmala Sitharaman explainer on petrol diesel price cut, Chidambaram, BJP, Congress, PM Modi, Narendra Modi, Petrol Diesel prices today

Union Finance Minister Nirmala Sitharaman on Sunday clarified that the entire cost of the reduction in excise duty on petrol and diesel is borne by the central government and the states revenue wont be impacted by the move.

The duty reduction made in November 2021 has an implication of Rs 1,20,000 crore a year for Centre.

Move does not impact state sharing of taxes