sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Customs and Excise »
 Central Board of Excise and Customs to be renamed CBIC by April
 Central Board Of Excise & Customs New Delhi GST Flyers
 Hike in customs duty on electronics likely to boost revenue collection
 Customs duty raised on electronic goods
 Ministry Of Finance (Central Board Of Direct Taxes) Notification
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes

Finance ministry refuses to slash excise duty on branded diesel
October, 07th 2014

The finance ministry has turned down the petroleum ministry’s proposal to reduce the excise duty on branded diesel, which is almost Rs. 7 a litre costlier than unbranded or normal diesel.

At present, normal diesel (in Delhi) is being sold at Rs. 58.97 a litre. Sales of branded diesel are almost nil due to the price difference. Oil companies through the petroleum ministry had sought a reduction in excise duty to narrow down the price difference.

Branded fuels (petrol and diesel) are regular fuels mixed with additives in order to increase the performance of vehicles.

In order to push the sales of branded petrol, finance minister Arun Jaitley had reduced the excise duty levied on them from Rs. 7.50 a litre to Rs. 2.50 a litre in the budget. However, branded diesel was left untouched as the government was subsidising diesel at that time.

“The proposal to cut the excise duty on branded diesel was taken up in August but has been turned down by the finance ministry in its September 11 letter,” revealed a petroleum ministry official.

The official added that the finance ministry is of the view that the request for reduction in excise duty on branded diesel cannot be acceded to as the high difference in the price is not only due to excise duty but other factors such as high basic price, dealer’s margin etc.

According to the finance ministry, excise duty contributes only Rs. 2.29 per litre to the price difference while other factors are contributing as much as Rs. 4.82 a litre. “Any reduction in excise duty at this stage would not have significant impact on sales,” stated the letter.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions