https://www.taxtmi.com/news?id=24248 Excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure and other developmental expenditure; duty increases raised excise collections to recoup revenue shortfalls from earlier international price declines. Retail petrol and diesel prices are market-determined and set by public sector oil marketing companies based on international product prices and exchange rates, while VAT on these fuels is imposed by states. en-us Wed, 21 Jul 2021 12:36:00 +0530 Wed, 21 Jul 2021 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24248 Excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure and other developmental expenditure; duty increases raised excise collections to recoup revenue shortfalls from earlier international price declines. Retail petrol and diesel prices are market-determined and set by public sector oil marketing companies based on international product prices and exchange rates, while VAT on these fuels is imposed by states. News - Wed, 21 Jul 2021 12:36:00 +0530 https://www.taxtmi.com/news?id=24248