https://www.taxtmi.com/news?id=71866 Excise duty on petrol and diesel was reduced to offset the impact of sharply rising global crude prices and to prevent an immediate increase in retail fuel prices. The reduction lowered the special additional excise duty on petrol and removed the corresponding levy on diesel, while the overall incidence of excise on both fuels was recalibrated through the existing duty structure. The measure was presented as a fiscal intervention to ease under-recoveries of oil marketing companies and to protect consumers from supply-driven price pressure. en-us Fri, 27 Mar 2026 15:31:04 +0530 Fri, 27 Mar 2026 15:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71866 Excise duty on petrol and diesel was reduced to offset the impact of sharply rising global crude prices and to prevent an immediate increase in retail fuel prices. The reduction lowered the special additional excise duty on petrol and removed the corresponding levy on diesel, while the overall incidence of excise on both fuels was recalibrated through the existing duty structure. The measure was presented as a fiscal intervention to ease under-recoveries of oil marketing companies and to protect consumers from supply-driven price pressure. News - Fri, 27 Mar 2026 15:31:04 +0530 https://www.taxtmi.com/news?id=71866