The government has been imposing customs duty, green tax, infrastructure development tax, road maintenance fee, and value added tax (VAT) on the import of petroleum products.
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The government has decided to provide a 50 percent discount on customs duty and infrastructure development tax on petroleum product imports. The government has been imposing customs duty, green tax, infrastructure development tax, road maintenance fee and value added tax (VAT) on petroleum product imports.
Even though the government has decided to provide a 50 percent discount on customs duty and infrastructure development tax, it will come into effect only after its publication in the gazette. Currently, when importing one liter of petrol, the customs duty is 25 rupees 23 paisa, pollution duty is 1 rupee 50 paisa, green tax per liter is 1 rupee, infrastructure development tax is 10 rupees per liter, road maintenance fee is 4 rupees per liter and value added tax (VAT) is 13 percent. The total cost of importing petrol per liter is 41 rupees 73 paisa excluding VAT, but after the discount given by the government, only 24 rupees 11 paisa per liter will have to be paid.
Now that the government has given a 50 percent discount on petrol imports, You will have to pay Rs 12,61 as customs duty and Rs 5 as infrastructure development tax per liter. Pollution duty is Rs 1,50, green tax is Rs 1 per liter, road maintenance fee is Rs 4 per liter and value added tax (VAT) is 13 percent. Now, you will get a discount of Rs 17,62 per liter on petrol import.
So far, when importing diesel, you have to pay Rs 12,000 as customs duty per kiloliter, green tax is Rs 1 per liter, infrastructure development tax is Rs 10 per liter, road maintenance fee is Rs 2 per liter and value added tax is 13 percent. You have been paying Rs 26,53 per liter to the government in addition to VAT on diesel import. After the discount given by the government, you will have to pay Rs 6,000 as customs duty and Rs 5 as infrastructure development tax per liter on diesel. Since other taxes remain the same, you will now have to pay Rs 15.53 per liter of diesel import.
