Reduction of Taxes on Petro-Products.

Press Information Bureau

Government of India

Ministry of Finance

06-September-2011 18:05 IST

Reduction of Taxes on Petro-Products

            With effect from 25th June, 2011, the Central Government has reduced basic customs duties on crude from 5% to Nil, on petrol and diesel from 7.5% to 2.5% and on other petroleum products from 10% to 5%.  Similarly, the basic excise duty on diesel has been reduced to Nil from Rs. 2 per litre.

            The custom and excise duties realized from petroleum crude and products during the last three years are as under:

This information was given by the Minister of State for Finance Shri S.S. Palanimanickam in a written reply to a question raised in Rajya  Sabha today.

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