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Finance Bill 2025 Raises Petroleum Development Levy Rates

Web DeskJune 12, 2024 06:39 PMbusiness
  • PDL rates increased for diesel and petrol, impacting consumers.
  • SKO PDL rate remains unchanged at Rs50 per litre.
  • PDL for LDO, HOBC, and E-10 gasoline raised to Rs75 per litre.
Finance Bill 2025 Raises Petroleum Development Levy RatesImage Credits: thenews.com.pk
The Finance Bill 2025 introduces amendments to the Petroleum Development Levy rates in India, impacting diesel, petrol, and other petroleum products. Consumers and businesses in the petroleum sector will need to adjust to the revised tax rates.

The Finance Bill 2025 has introduced amendments to the Petroleum Development Levy (PDL) rates for various petroleum products in India. The PDL is a tax imposed on the production and import of petroleum products to fund infrastructure and development projects.

Under the new proposal, the maximum PDL limit on high-speed diesel oil and petrol is set to increase by Rs20 to Rs80 per litre. This means that consumers purchasing these fuels will bear a higher tax burden. However, the PDL rate for superior kerosene oil (SKO) remains unchanged at Rs50 per litre.

Furthermore, the Finance Bill 2025 also raises the PDL for light diesel oil (LDO), high-octane blending component (HOBC), and E-10 gasoline to Rs75 per litre from the previous Rs50. This adjustment will impact the pricing of these specific petroleum products in the market.

The changes in the Petroleum Development Levy outlined in the Finance Bill 2025 will have direct implications on the prices of high-speed diesel oil, petrol, light diesel oil, HOBC, and E-10 gasoline. Consumers and businesses in the petroleum sector will need to factor in these revised tax rates when planning their budgets and pricing strategies.

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