Fuel Tax Update: Amidst rising inflation of petrol and diesel, the Finance Minister made a big announcement, know the update

New Update Petrol Price Today: On the rising inflation of petrol-diesel, Finance Minister Nirmala Sitharaman has said that the government will now review the new tax imposed on crude oil, diesel-petrol and aircraft fuel (ATF) every 15 days. Let’s know the latest updates.

Read Also: Good News FRP for Sugarcane: Government’s gift to farmers, sugarcane will get double the cost, check details here

FM On Fuel Tax: There is news of work for the people troubled by the rising inflation of petrol and diesel. Finance Minister Nirmala Sitharaman has made a big announcement on fuel. The Finance Minister has said that the government will now review the new tax imposed on crude oil, diesel-petrol and aircraft fuel (ATF) every 15 days. In fact, keeping in mind the international prices, the government will review the taxes every fortnight.

Read Also: Big sale on iPhone 13, getting a discount of up to 29 thousand rupees! on flipkart, check here full update

Finance Minister said big thing

After the two-day meeting of GST, Finance Minister Sitharaman said during a press conference that this is a difficult time and oil prices have become unbridled globally. “We don’t want to discourage exports but want to increase its availability domestically,” he said. If oil is not available and exports continue with windfall gains, then at least some part of it will need to be kept for our citizens also.

Read Also: Big Update Government Scheme: In this scheme of the government, you will get 5 thousand rupees every month, check here details

Export tax on petrol, diesel and aircraft fuel

The government on Friday also announced the imposition of tax on the export of petrol, diesel and aircraft fuel. Let us tell you that the export of petrol and ATF has been taxed at the rate of Rs 6 per liter and the export of diesel at the rate of Rs 13 per liter. This new rule has come into effect from today i.e. July 1.

Tax on locally produced oil also

Along with this, tax was also announced on locally produced crude oil like Britain. A tax of Rs 23,250 per tonne has been imposed on domestically produced crude oil. Revenue Secretary Tarun Bajaj said that the new tax will also be applicable to SEZ units but there will be no restriction on their exports. Along with this, on the fall of the rupee, the Finance Minister said that the Reserve Bank of India and the government are monitoring the situation. The government is fully aware of the impact of rupee value on imports.

Read Also: Good News FRP for Sugarcane: Government’s gift to farmers, sugarcane will get double the cost, check details here