Welcome to ZisNews!

Read your favorite news, except the excluded topics, by you. Register
No overlapping ads for registered users

Excise duty cut on petrol, diesel could lead to ₹7,000 crore revenue loss in 15 days: Top tax official

Posted on: Mar 27, 2026 16:04 IST | Posted by: Hindustantimes
Excise duty cut on petrol, diesel could lead to  ₹7,000 crore revenue loss in 15 days: Top tax official
THe government's displace to cut down excise tax tariff on petrol and rudolf diesel will lead to a revenue loss of around ₹7,000 crore in 15 days, Central Board of Indirect Taxes and Customs chairman Sanjay Kumar Agarwal said on Friday.The move — to cut excise duty on petrol and diesel by ₹10 per litre — reduces losses of oil companies amid the ongoing conflict in the Middle East.The top tax official said that the excise cut on petrol, diesel has been aimed to reduce the under recoveries of oil marketing companies and to ensure that the fuel prices do not rise for common man.The government has also imposed an export duty of ₹21.5 per litre on diesel and ₹29.5 per litre on aviation turbine fuel (ATF) to meet domestic demands. Agarwal said the additional duty on exports will yield ₹1,500 crore to the exchequer in a fortnight. The war in the Middle East, that marks 30 days on Saturday, has pushed international oil prices up by 50 per cent to over $100 per barrel. As per estimates, the current international crude prices, petrol prices should have been increased by ₹26 a litre and diesel by ₹81.90.The petrol price in Delhi is currently at ₹94.77 per litre, while that of diesel is ₹ ₹87.67.

Global News Perspectives

In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.

Customizable News Feed

At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.

Like or Comment on News

Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.

Download the Android App

For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.

Diverse News Categories

With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.

Login to Like (0) Login to Dislike (0)

Login to comment.

No comments yet.