 "Budget 2021 alters levies on auto fuels: agri cess in, excise pruned")
Finance Minister Nirmala Sitharaman altered the levies on petrol and diesel in the Union Budget 2021-22. These alterations will be applicable from April 1, 2021.
“An agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre has been imposed on petrol and Rs 4 per litre on diesel…Overall there would be no additional burden on the consumer,” the annexure to Sitharaman’s budget speech noted.
“The Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden. Consequently, unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre respectively. The SAED on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively. Similar changes have also been made for branded petrol and diesel,” the annexure said.
Presently the excise duty on petrol is Rs 32.98 per litre and on diesel it is Rs 31.83 a litre. Petrol sold at Rs 86.30 a litre while diesel retailed at Rs 76.48 a litre in the national capital on Monday.
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