Excise Duty Hike: Excise duty hiked on petrol-diesel, ATF exports, know what will be the benefit to you?

Excise duty hike on petrol-diesel export: Taking a big step, the central government on Friday increased the excise duty on the export of petrol-diesel and ATF. The government has increased the excise duty on the export of petrol by Rs 5 and on diesel by Rs 12 per liter. Apart from this, the central excise duty on ATF export has been increased by Rs 6 per liter.

No change in excise duty for Nepal-Bhutan
Experts believe that this news is good for the countrymen. This will help in meeting the fuel consumption in the domestic market. This decision has been taken to control the price of petrol and diesel in the domestic market. Although the excise duty for Nepal-Bhutan will remain the same, there has been no change in it.

It is necessary to give 50 percent petrol in the country,
Along with this, the government has banned the export of all products including petrol, diesel, and ATF. For this, companies will have to give self-declaration. This rule will be applicable to sending out imported oil. Companies will have to give 50 percent petrol and 30 percent diesel in the domestic market. In this, the exemption has been given to Nepal and Bhutan. This decision has been taken to keep the prices under control in the domestic market.

Read More: Petrol-Diesel Price: Petrol diesel prices changed today? Know the rates of 10 cities including Delhi Patna.

Hopes of relief rise in ATF prices
There will be a duty of Rs 23250 per tonne on the export of crude oil. With this move of the government, the expectation of relief in ATF prices for airline companies has increased. Due to an increase in stock in the domestic market, prices will remain under control. There was no change in the price of ATF on Friday as well.

Finance Ministry officials said that the excise duty on the export of petrol and diesel has been increased. This will not put any burden on the common customers. The government took this decision because the companies were exporting continuously for some time. Due to this, there was a shortage of oil in the domestic market and there was a jump in the price.

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