The PM Modi-led Centre announced on Saturday that it had sharply increased the export duty on diesel from Rs 21.5 per litre to Rs 55.5 per litre. It also notified that export duties and cesses on high-speed diesel has also been increased.
Under the revised structure, the Special Additional Excise Duty on high-speed diesel has been raised to Rs 24 per litre, while the Road and Infrastructure Cess now stands at Rs 36 per litre.
Meanwhile, duty on aviation turbine fuel (ATF) has also been raised from Rs 29.5 per litre to Rs 42 per litre, while export duty on petrol continues to remain nil.
The announcement, which takes effect immediately, were made through a series of finance ministry notifications dated April 1, signalling a push to shore up revenues amid mounting fiscal pressures.
An official explanation for the move is expected to follow soon.
Under the revised structure, the Special Additional Excise Duty on high-speed diesel has been raised to Rs 24 per litre, while the Road and Infrastructure Cess now stands at Rs 36 per litre.
Meanwhile, duty on aviation turbine fuel (ATF) has also been raised from Rs 29.5 per litre to Rs 42 per litre, while export duty on petrol continues to remain nil.
The announcement, which takes effect immediately, were made through a series of finance ministry notifications dated April 1, signalling a push to shore up revenues amid mounting fiscal pressures.
An official explanation for the move is expected to follow soon.
