The Indian government has more than halved levies on the export of diesel as the country reported its largest ever trade deficit in July.
Taxes have been reduced to five rupees (six cents) a liter, down from 11 rupees previously, in order to encourage shipments of the commodity. Bloomberg noted this marks the second time these taxes have been decreased since they were initially implemented on July 1st.
Source MIC
Latest Posts in "India"
- 56th GST Council meeting is scheduled for September 3rd and 4th, 2025
- Eight States Demand GST Rate Cuts Be Tied to Revenue Guarantee and Consumer Benefits
- CII Urges Corporates to Transfer GST Rate Cut Benefits to Consumers Before Festive Season
- DGFT Extends Export Obligation Period, Boosting Indian Textile Exporters’ Competitiveness
- GST 2.0: New Two-Slab Tax Regime Announced, Healthcare and Essentials to Get Cheaper
