Govt cuts windfall tax on petrol, diesel, jet fuel, crude oil - Nagpur Today : Nagpur News
Nagpur Today : Nagpur News Latest News Govt cuts windfall tax on petrol, diesel, jet fuel, crude oil
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Nagpur Today : Nagpur News Latest News Govt cuts windfall tax on petrol, diesel, jet fuel, crude oil
Uniindia: New Delhi, May 22 (UNI) Finance Minister Nirmala Sitharaman on Sunday said that the excise duty reduction of Rs 8 per litre on petrol and Rs 6 per litre on diesel has entirely been made in Road and Infrastructure Cess and hence the entire burden of the duty cut would be borne by the central government.
Basic excise duty which is shared with states has not been touched, says FM.
Amidst rising energy prices and inflation, the government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battering under high fuel prices.
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 state's revenue won't be impacted by the move.