.. Changes In Customs And Excise Duty Rates In Petroleum Sector (2002-2011)

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07 Aug 2014
   Oil & GasDownstreamTax and DutiesCustom & ExciseChanges in Customs and Excise Duty Rates in Petroleum Sector (2002-2011)

Summary

Changes in Customs and Excise Duty Rates in Petroleum Sector (2002-2011). At present, 2.5 percent customs duty applies to petrol and diesel while crude oil, PDS Kerosene and Domestic LPG are exempted from customs duty. In case of excise duty, there is an effective amount of INR 14.78 on a liter of petrol while there is an effective amount of excise duty of INR 2.06 per liter on diesel. PDS Kerosene and Domestic LPG are exempted from excise duty. There is also a cess of INR 2,500 per MT on crude oil. The effective rate of customs duty and excise duty have changed multiple times since 2002.......

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