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Government announces excise duty cut of Rs 2.5 per litre on fuels

Thursday, October 4, 2018, 3:45 PM

Government has announced a relief of Rs 2.50 on petrol and diesel to consumers. Announcing the decision, Finance Minister Arun Jaitley said that the Centre will cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the Oil Marketing Companies. He has urged the state governments to cut the VAT on fuel by an equal amount.
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28% GST rate added the Excise, VAT and CST: Chidambaram

Saturday, July 28, 2018, 11:32 AM

Senior Congress leader and former finance minister P. Chidambaram on Saturday criticised the Centre for failing to effectively implement the Goods and Service Tax (GST) in India in 2017. Taking to Twitter, Chidambaram was of the view that the 28 percent tax slab under the new tax regime has only added the Excise, VAT, and CST.
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Centre won't cut fuel price now, says Minister Ravi Shankar Prasad

Friday, June 1, 2018, 8:23 AM

Union law and IT minister Ravi Shankar Prasad ruled out reduction in excise duty to bring down rising fuel prices. Addressing a press conference, Mr Prasad said the NDA government is not interested in pursuing such "short-term relief measures" but is working on a "long-term solution", which will be announced soon to check the volatility of prices based on fluctuating international crude prices.