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The Finance Minister has reduced the Customs Duty on other petroleum products including the motor spirit and high speed diesel from 20 or15 per cent to 10 per cent and Excise Duty on petrol and diesel will be fixed as a combination of ad valorem and specific duties. LPG for domestic consumption and on subsidised kerosene will not attract any customs duty and excise. The Customs Duty on crude petroleum has been reduced from 10 per cent to 5 per cent.
SB/MVVS/NVN/KKA
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