NEW DELHI : To shore up revenues during the lockdown, the government has hiked excise duties on petrol and diesel with effect from today. Since crude oil rates have lost by over 60% from its this year’s peak, the excise duty hike would not lead to a hike in retail selling price of the two automobile fuels.
Excise duty has been increased by a record ₹10 per litre on petrol and ₹13 per litre on diesel. The government hopes to garner ₹1.6 lakh crore additional revenue with the hike. With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83.
Petrol costs ₹71.26 a litre in Delhi and a litre of diesel comes for ₹69.39.
Petrol:
Base Price: ₹17.96 per litre
Freight: ₹0.32 per litre
Price charged to dealers (excluding Excise Duty and VAT): ₹18.28 per litre
Excise Duty: ₹32.98 (includes basic excise duty of ₹2.98, Special Additional Excise Duty of ₹12 and Additional Excise Duty for road and infrastructure cess of ₹18)
Average dealer commission: ₹3.56 per litre
VAT (including VAT on Dealer Commission): ₹16.44
Retail Selling Price at Delhi: ₹71.26
(The price includes basic customs duty of 2.5%, additional customs duty of ₹2.98 per litre and additional customs duty of ₹10.)
Diesel:
Base Price: ₹18.49 per litre
Freight: ₹0.29 per litre
Price charged to dealers (excluding Excise Duty and VAT): ₹18.78 per litre
Excise Duty: ₹31.83 per litre (Basic excise duty of ₹4.83, Special Additional Excise Duty of ₹9 and Additional Excise Duty for Road and infrastructure Cess ₹18)
Average dealer commission: ₹2.52 per litre
VAT (including VAT on Dealer Commission): ₹16.26 per litre
Retail Selling Price in Delhi: ₹69.39 per litre
(The selling price also includes Basic Customs Duty of 2.5%, Additional Customs Duty (CVD) of ₹4.84 per litre and Additional Customs Duty of ₹10.)
