NEW DELHI: Finance minister Nirmala Sitharaman on Monday announced the imposition of a new agri cess on petrol and diesel in Union Budget 2021.
The Agriculture Infrastructure and Development Cess (AIDC) was proposed on a small number of items. It will be imposed from Tuesday on customs duty levied on bullion, alcoholic beverages, coal and agri products ranging from apple to lentil.
Consequently, AIDC of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel was announced.
However, the basic excise duty (BED) and special additional excise duty (SAED) rates have been reduced so that overall consumer does not bear any additional burden.
Unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre, respectively.
The SAED on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively.
Similarly, changes have also been made for branded petrol and diesel.
(With inputs from agencies)