Govt cuts excise duty on petrol, diesel; windfall tax on fuel export back

NEW DELHI: (Mar 27) The government has slashed excise duty on petrol and diesel by Rs 10 per litre each, a move aimed at shielding domestic consumers from a surge in global oil prices triggered by the Middle East conflict, at an estimated revenue cost of Rs 1.75 lakh crore.

Alongside, the government brought back duties on export of diesel and aviation turbine fuel (ATF).

Special additional excise duty on petrol has been cut from Rs 13 a litre to Rs 3 and the same on diesel from Rs 10 per litre to nil, according to a notification issued late on Thursday.