New Delhi [India], February 1 (ANI): Union Finance Minister Nirmala Sitharaman has announced the imposition of Agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel.
However, there would be no additional burden on the consumer overall as Sitharaman during Budget presentation also proposed to reduce Basic Customs Duty on these items.
“I propose an Agriculture Infrastructure and Development Cess (AIDC) on a small number of items. However, while applying this cess, we have taken care not to put additional burden on consumers on most items,” Finance Minister Sitharaman said in her Budget speech.
“Consequently, unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre respectively. The Special Additional Excise Duty (SAED) on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively. Similar changes have also been made for branded petrol and diesel,” she added.
Sitharaman said that an AIDC of Rs 2.5 per litre has been imposed on petrol and Rs 4 per litre on diesel.
However, blended fuel– M-15 petrol and E-20 petrol — will be exempted from cesses and surcharges on the lines of other blended fuels (like E-5 and E-10) if these blended fuels are made of duty paid inputs, Sitharaman said. (ANI)