Diesel production tax increased

26 August 2016 05:14 pm - 5     - {{hitsCtrl.values.hits}}

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The Government has increased the production tax on diesel by Rs. 10 per liter with effect from August 20, the Finance Ministry announced today.

Accordingly, the production tax on diesel has been increased to Rs. 13 from Rs. 3.

Ministry said the market price of diesel would not be increased due to the new tax revision.

The ministry said the crude oil prices in the world market have declined and the Government has revised the production tax on diesel in order to claim the advantage from the world oil price decline.

  Comments - 5

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  • lkboy Friday, 26 August 2016 06:01 PM

    Oh boy, what a statement. Government has revised the tax in order to claim the advantage by the world prices going down, instead of passing the advantage on to the citizens!

    Arnold Friday, 26 August 2016 06:13 PM

    This is not going to be good.

    Premalal Friday, 26 August 2016 06:13 PM

    No business can do any credible business plan. This government was supposed to be business frendly. National budget has no meaning, price controls are enforced, taxes change like yo yos. Very business friendly.

    shan Friday, 26 August 2016 07:59 PM

    Tax means passing the benifits to all people indirectly not passing benifits tocertain group of people.

    Cobra Friday, 26 August 2016 08:27 PM

    B onions, potatoes and now diesel; all this is VAT in mufti!!!


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