Excise, customs duty cut on petro-products expected in Indian Budget 2008

20-Feb-08
India government could be contemplating a proposal to cut duties on crude oil and petroleum products to counter the high global oil prices. The proposal includes a reduction in customs duty on crude oil (from 5% to 2.5%); petrol and diesel (from 7.5% to 5%); aviation turbine fuel (from 10% to 7.5%); and naphtha, natural gas and non-domestic LPG (from 5% to 2.5%). The duty changes, if accepted, will be announced in the Union Budget. Excise duty on petrol and diesel may also be cut by around Re 1/litre, sources said. It is estimated that a Re 1 cut in excise duty could reduce under-recoveries of oil companies by around Rs 6,650 crore annually.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Moulds for lotion pump

Moulds for lotion pump