With base price at just Rs 18, Indians now pay 275% in taxes to govt on every litre of petrol!

coastaldigest.com web desk
June 9, 2020

With the steep hike in excise duty in the past couple of months, an average consumer of petrol now pays over 275% in taxes to centre and states on a litre of the fuel.  The base price of petrol is just about Rs 18. The taxes are close to Rs 50 and the pump price is over Rs 72.

India imports 85% of all its crude oil demand.  After a steep hike in excise duty in the past two months despite a hold on daily price revisions by the oil public sector undertakings (PSUs), Indian consumers now pay 275% collectively in excise duty to state and centre. 

The central government hiked excise on petrol and diesel by Rs 10 and Rs 13 respectively last month. The excise duty on petrol is taxed around Rs 33-a-litre while the same on diesel it is Rs 32.

The Value-Added Tax (VAT) on both petrol and diesel is Rs 16.44 and Rs 16.26 respectively. Both the taxes together are around Rs 49 while it is sold at petrol pumps at 73-per-litre.

These two taxes cumulatively account for 69% of tax which is higher than anywhere else in the world. The same is taxed at 19% in the US, 47% in Japan, UK 62% and 63% in France. The government does not pass on the benefit of lower crude oil prices to the customer.

It is to be noted that Indian consumers continued to pay Rs 70-a-litre even when crude oil prices hit a paltry US $ 20-a-barrel on April 12.

Former finance minister and Congress leader recently took a jab at the Centre over rising prices stating, “Fuel selling prices raised twice in two days, following tax hikes two weeks ago. This time to benefit oil companies. Government is poor, it needs more taxes. Oil companies are poor, they need better prices. Only the poor and middle class are not poor, so they will pay”.

Comments

Lovely indian
 - 
Wednesday, 10 Jun 2020

Acche din for modi bakth....lets enjoy

 

you need only ram mandir and NRC

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News Network
January 16,2020

Mangalore, Jan 16: Medical fraternity of the state are racing and thrilled to be participating in the upcoming Karnataka Medical Council election to be held on 23 Jan 2020 polling will be held at IMA House Mangalore by direct ballot.

The results will be announced on Jan 25, 2020.

This Election is a historic one since the inception of KMC, It is being conducted across the state by direct voting by all the registered MBBS doctors of the state for 12 seats numbering more than 65,000.

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News Network
May 24,2020

Bengaluru, May 24: A couple got married in Bengaluru today, even as Karnataka government has announced a complete lockdown on Sundays, as part of the fourth phase of COVID-19 shutdown till the end of this month.

The marriage ceremony on this Sunday was possible thanks to a clarification given by the state government for marriages, which has been already scheduled for May 24 and May 31 to be exempted from the Sunday complete lockdown.

At today's wedding, the rituals were performed with compliance of all guidelines including ensuring social distancing and capping the number of guests at 50.

Satish, the groom said, "Government has allowed weddings with up to 50 people in attendance but we decided to invite only 25 people to the ceremony".

Meanwhile, in the Honnali Honnali area of Davanagere, BJP MLA MP Renukacharya distributed masks to three newly-wed couples.

As per an earlier advisory issued by the State government more than 50 guests, no air conditioning, and the consumption of liquor and paan are among the guidelines to be followed for holding weddings in the state. Also, people aged above 65 and below 10 as well as pregnant women have been barred from participating in the event.

According to the advisory, sanitisers should be provided at the entry and other appropriate places at the venue. Also, thermal screening of all persons shall be conducted at the entry of the venue. The scanner should be held 3-15 cms away from a person's forehead.

Apart from this, the venue shall be "clean and hygienic," and a "nodal person shall be identified for overseeing the arrangements and coordination at the venue." Also, a list of attendees with contact details has to be maintained and all guests should have downloaded Aarogya Setu app.

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News Network
February 29,2020

Udupi, Feb 29: Senior Congress leader and Udupi’s crackers trader K Krishnaraja Saralaya allegedly committed suicide by jumping into a well outside his house at Paniyadi on Saturday.

He was 87, Krishnaraja was leading a solitary life. It is suspected that he ended his life ''due to mental agony''.

He is survived by two daughters. One is settled in Australia another is in Bengaluru. Saralaya had also served as President of Udupi Town Co-operative Society. The police visited the spot .

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