Govt hikes duty on petro products

Khabarhub

May 29, 2020

2 MIN READ

Govt hikes duty on petro products

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KATHMANDU: Finance Minister Yuba Raj Khatiwada has increased duty on the petroleum products by Rs 10 per liter.

With the hike, the taxation of petrol has gone up by Rs 25.20 per liter and that of diesel and kerosene by Rs 12 per liter each.

Earlier, the taxation on petrol was put at Rs 15.20 per liter and that of diesel and kerosene Rs 2 per liter each.

With the increase in taxation with a wide margin, the taxation amount will come around Rs 2 billion per month.

On the other hand, the government has remitted the 10 percent duty being imposed on the avian fuel for infrastructure development.

Under this topic, the government had been collecting around 160 million per month.

With the decision to remove tax on the aviation fuel and increase on the petroleum products, the government will now collect Rs 1.75 billion more tax per month.

The government on Thursday announced the Federal Budget of Rs 1,474.64 billion for the fiscal year 2020/21.

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