Govt. Amends Law to Raise Excise Duty on Petrol, Diesel by Rs 8/litre in Future

, Govt. Amends Law to Raise Excise Duty on Petrol, Diesel by Rs 8/litre in Future

The government on Monday amended the law to get enabling powers to raise excise duty on petrol and diesel by Rs 8 per liter each in the future.

Finance Minister Nirmala Sitharaman moved an amendment to the Finance Bill, 2020, to raise the limit up to which the government can raise special excise duty on petrol and diesel to Rs 18 per liter and Rs 12, respectively.

The amendment along with the Finance Bill was passed without a debate in the Lok Sabha.

This hike took the special additional excise duty to maximum permissible in law — Rs 10 in case of petrol and Rs 4 in case of diesel.

Now, through an amendment of the Eighth Schedule of the Finance Act, this limit has been increased to Rs 18 per liter in the case of petrol and Rs 12 in the case of diesel.

This is an enabling provision and no change in excise duty is being done as of now, an official said.

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