New Delhi: Now excise duty will not have to be paid on 12-15% ethanol blended petrol. The Finance Ministry has made this announcement focusing on promoting ethanol-blended petrol. not only this. Showing readiness for this decision, the Finance Ministry has also issued a notification regarding this.
According to the news of Moneycontrol, while giving information on the notification of the Ministry of Finance, it said that in any petrol in which ethanol blending of 12 to 15 percent has been done, then the blended ethanol will be exempted from excise duty.
Duty will not be levied only on ethanol blending
Laxman Roy, explaining in detail the exemption on excise duty, said that suppose there is a total of 100 liters of petrol, of which 12 percent of the quantity i.e. 12 liters of ethanol has been blended, then excise duty will not have to be paid on that 12 liters of petrol. However, on the remaining 88 percent of 100 liters of petrol i.e. 88 liters, the same excise duty will have to be paid on petrol as before.
Laxman also told that a month ago, oil marketing companies had achieved the target of 9.5 percent, moving towards the government’s target of ethanol blending. Now it is reported that oil marketing companies have achieved the target of 10 percent in ethanol blending. The government is expected to take this target further.
