TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
Budget 2021-22 + FINANCE Bill, 2021
IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL
An Agriculture Infrastructure and Development Cess (AIDC) as an additional duty of excise has been proposed on Petrol and High speed diesel vide Clause [116] of the Finance Bill, 2021. This cess shall be used to finance the improvement of agriculture infrastructure and other development expenditure. The details of the cess are as under:
S. No. | Commodity | Rate of AIDC [Clause [116] of the Finance Bill, 2021]* |
1 | Motor spirit commonly known as petrol | ₹ 2.5 per litre |
2 | High speed diesel | ₹ 4 per litre |
*Will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.
Full Text:
Agriculture Infrastructure and Development Cess on petrol and diesel imposed for agriculture infrastructure funding, effective immediately. An additional duty of excise, the Agriculture Infrastructure and Development Cess, is proposed on motor spirit (petrol) and high speed diesel by the Finance Bill, 2021 to finance agriculture infrastructure and related development expenditure. The proposal sets fixed per litre cess rates for each fuel and declares the levy effective immediately through the provisional tax collection mechanism, thereby earmarking cess proceeds for agriculture infrastructure and development spending. of Press 'Enter' after typing page number.
TaxTMI 
TaxTMI 