Finance Minister Arun Jaitley had recently said that the Central government favours bringing petrol products under the GST umbrella, but is looking for consensus with state governments to do the same.
With the daily rising prices of petrol and diesel in the country, it was hoped that the government could give relief to people by cutting excise duty on them. Basic excise duty on branded diesel was also reduced from Rs 10.69 per litre to Rs 8.69 per litre.
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Officials later clarified that an outright ban is only one of the steps being considered, and a final decision was yet to be made. Kim Dong-Yeon put an end to the sometimes murky and conflicting comments emerging from various official and banking authorities.
Chief Minister Siddaramaiah ruled out cutting sales tax imposed on petrol and diesel, with the Centre announcing a slash in excise duty on these fuels. Thus there is no change in the total excise duty. That is the only change we have made; practically there is no impact on the final price of petrol and diesel.
Road and infrastructure cess on petrol and diesel manufactured in and cleared from four specified refineries in the northeast has been levied at Rs 4 per litre.
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Bill Nelson , Marco Rubio and a bipartisan group of Florida House members as well as representatives from other states. Congresswoman Nydia Velazquez, D-N.Y., who also attended the summit, described the situation as "outrageous".
Addressing a press conference post the presentation of the Economic Survey 2017-18 here, Subramanian said the present oil prices had impacted government finances and held back real economic activity. Diesel is widely used in transport and agriculture sector, and therefore, increase in its price would increase the input cost of farmers. The price of high speed diesel oil has been increased by Rs5.92 per litre as against the proposal of increase by Rs10.25 per litre.
The new prices of the petroleum products will be effective from midnight today.
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Delegations from Iran, Russia , and Turkey, as the initiators of the peace talks, as well as a United Nations delegation led by de Mistura attended the congress.
In addition to the GST, the government was charging highest rates of Petroleum Development Levy (PDL) from the consumers. Declining drilling activity for new oil production in the United States has further supported crude prices. Incidentally, the BJP-led government has cut excise duty only once during its tenure but raised it nine times between November 2014 and January 2016.