The central government has decided to increase the excise duty on the export of petrol, diesel and ATF. Excise duty has been increased by Rs 5 per liter on petrol and Rs 12 per liter on diesel. Central excise duty on export of ATF (Aviation Turbine Fuel) has been increased by Rs.6 per liter.
According to experts, this is good news for the common man, it will help in meeting the fuel consumption in the domestic market. This decision has been taken by the government to ensure that there is no shortage of fuel in the country. This will also help in controlling the prices in the domestic market. However, in countries like Nepal-Bhutan etc., the decision has not been taken to make any change in the excise.
Cleanliness of the government – will not affect the common people
On the decision to increase the excise duty on petrol and diesel, it has been told by the officials of the Finance Ministry that the export excise duty of petrol and diesel has been increased, this will not increase any additional burden on the common consumers.
Rather, with this decision, the availability of these things will remain in the country. The central government took this decision because the companies were exporting more for some time. Due to export, oil was falling short in the domestic market itself. Due to this the prices were also increasing. Now this decision of the government will help in controlling the prices, the general public will get its benefit.
The government has decided to levy an additional tax of Rs 23,230 per tonne on domestically produced crude oil to control windfall gains to producers after rising oil prices in the international market. A notification in this regard has been issued by the government.
Let us tell you that Indian oil refiners are making huge profits from the export of fuel to markets like Europe and America. In such a situation, the government has increased the tax on the export of domestically produced crude oil to Rs 23, 230 per tonne.
The post Excise Duty Hike: Excise Duty Increased on Petrol-Diesel and ATF appeared first on Spotlight 7.
source https://spotlight7.com/national/excise-duty-hike-excise-duty-increased-on-petrol-diesel-and-atf/
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