AMENDMENT IN THE EIGHTH SCHEDULE TO THE FINANCE ACT, 2002:

S. No.	Amendments in scheduled rate of Special Additional Excise Duty on Petrol and Diesel [to be effective from 06.07.2019]* [Clause [185] of the Finance (No. 2) Bill, 2019][effective rate is prescribed by notification as detailed in V-A below]	Rate of Duty
		From	To
1	Motor spirit commonly known as petrol	₹ 7 per litre	₹ 10 per litre
2	High speed diesel oil	₹ 1 per litre	₹ 4 per litre

*  Will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.  

 

 

 

Special additional excise duty increase on petrol and diesel imposes higher fuel taxes immediately under provisional collection. Amendment raises the scheduled rates of Special Additional Excise Duty on petrol and diesel by modifying the Eighth Schedule to the Finance Act, 2002 via the Finance (No. 2) Bill, 2019; the change is to take effect immediately under a provisional collection declaration, with the operative rates to be prescribed by subsequent notification.