Major relief for Jet Airways, SpiceJet and IndiGo as govt announces excise duty cut on jet fuel from 14% to 11%
Business | October 11, 2018 13:04 ISTThe shares of major aviation stocks surged by nearly 14 per cent on Wednesday.
The shares of major aviation stocks surged by nearly 14 per cent on Wednesday.
The revised rates of petrol in Delhi stood at Rs 81.82/litre and Rs 73.53/litre respectively.
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Immediately after the Centre’s decision, many state governments also reduced the price.
Kurukshetra | October 4, 2018: Petrol, diesel prices cut by Rs 5, but is it enough?
While Rajasthan on Sunday announced a 4 per cent cut in VAT on petrol and diesel, Andhra Pradesh Monday said fuel prices will be reduced by Rs 2 each from cut in sales tax.
Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19.
Petroleum Minister Dharmendra Pradhan on Wednesday urged the state governments to cut Value Added Tax (VAT) on fuel by 5 per cent
Petrol price were today cut by Rs 2.5 per litre and diesel by Rs 2.25 a litre, a day after the government reduced excise duty on auto fuels.
The Centre has asked state governments to reduce VAT in order to further ease the burden on consumers.
The government on Tuesday reduced Excise Duty on petrol and diesel by Rs 2 per litre, effective October 4.
The government on Saturday asked the jewellers to settle the excise dues for March-May along with that of June and get themselves registered with the central excise department by July 1.
Mumbai: Jewellers on Saturday called off an 18-day old strike demanding a roll-back of proposed excise duty on non-silver jewellery after the government assured them that there will be no harassment by excise officials. Major
New Delhi: Ahead of the Budget, government today hiked the excise duty on petrol by Re 1 per litre and Rs 1.50 on diesel, the third increase this month, to mop up over Rs 3,200
New Delhi: In the second increase in duties in just over two weeks, the government today announced an increase in the excise duty on petrol by Rs 0.37 per litre and by Rs 2 a
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