Agri infra cess on petrol and diesel: states suffer; centre neutral, consumers wary

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While India’s finance minister, Nirmala Sitharaman said in heer budget speech that the imposition of the agriculture infrastructure and development cess on petrol and diesel will not bear any additional burden to the consumers, the public is wary and watchful.  Retail price of auto fuels have already reached record highs, as global crude prices have inched higher on […]

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Interview – Indian budget needs to address oil and gas sector’s demand for GST

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Jay Cheema, is a partner in law firm Cyril Amarchand Mangaldas, where he specialises in energy. He talked to Biman Mukherji of indoasiancommodities.com about expectations from the forthcoming budget for the oil and gas, renewables and energy sector  to expedite the recovery process from the global pandemic. Q: Oil prices have started recovering, but the sector has been […]

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Successive hikes in taxes on petrol and diesel in 2020 increases India’s excise duty collection by 48%

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While the pandemic stifled tax collections across the country, India’s excise duty mop-up jumped by 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel. It more than made up for the below-normal fuel sales during the lockdowns. Excise duty collection during April-November 2020, was […]

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India notifies modified scheme on ethanol production to assist distilleries

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The Indian government notified a “modified” scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals. The assistance will be given for capacity expansion, setting up of new ethanol distilleries or converting molasses-based distilleries to dual feedstock. In a statement, the government said sugar mills, distilleries or entrepreneurs are required to submit an application in a prescribed […]

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India’s fuel demand at 11-month high in December 2020; retail pices in January 2021 touching sky high

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India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]

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