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
May 30,2020

Chamrajnagar, May 30: Karnataka Cabinet Minister Ramesh Jarakiholi said on Friday that over22 Congress MLAs were in touch with him and he can bring five of them.

"More than 22 Congress MLAs are in contact with me and if the high commands wants, I can bring five of them tomorrow," Jarakiholi told reporters.

Replying on speculation that some MLAs in BJP are not happy and want to join the Congress, he said, "Congress is a sinking boat and nobody wants to go to Congress now."

Meanwhile, sources in BJP have said that some party leaders are not happy including Basangouda Ramangouda Patil Yatnal.

Basvanagowda Patil said earlier this week that "BS Yediyurappa is not his CM, he is the CM of Karnataka. My leaders are Narendra Modi and JP Nadda."

The sources also said that other close aides of Yeddyurappa like Umesh Katti and Murugesh Nirani are no longer happy with him as they are yet to be included in the state cabinet.

The sources said Nirani has stood with Yeddyurappa but has not been included in the cabinet. There is speculation that several MLAs are in touch with Nirani.

Sources said Nirani, Umesh Katti, Basvanagowda Patil and several other leaders held a meeting in an undisclosed location.

Congress leader DK Suresh said the Congress has no role in the developments in BJP. "Yeddyurappa government will be brought down by their own MLAs. Congress has no role in it," he said.

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News Network
June 26,2020

Bengaluru, Jun 26: Karnataka recorded 445 new Covid cases, majority of whom were contacts of earlier positive cases, breaching the 11,000 mark to settle at 11,005, an official said on Friday.

"New cases reported from Thursday 5 p.m. to Friday 5 p.m., 445," said a health official on Friday.

In the past 24 hours, 10 patients succumbed to the virus in Karnataka, three in Bengaluru Urban and one each in Kolar, Dharwad, Shivamogga, Bagalkote, Bidar, Kalaburagi and Ballari.

Like everyday, contacts of earlier cases outnumbered domestic returnees in the number of infections, constituting 39 per cent.

Positive cases with domestic travel history numbered 65, a mere 15 per cent and majority to Maharashtra.

There were also 21 cases with international travel history to countries like Oman, Qatar, Saudi Arabia and Dubai.

On Friday, cases spiked in Bengaluru Urban, Ballari, Kalaburagi, Koppal, Dakshina Kannada, Dharwad, Raichur, Gadag, Chamarajanagar, Udupi, Yadgir, Mandya, Uttara Kannada, Bagalkote, Shivamogga, Kolar and Mysuru.

Among the new cases, Bengaluru Urban accounted for 144, followed by Ballari (47), Kalaburagi (42), Koppal (36), Dakshina Kannada (33), Dharwad (30), Raichur (14), Gadag (12), Chamarajanagar (11), Udupi (9), Yadgir (7), Mandya, Uttara Kannada, Bagalkote, Shivamogga and Kolar (6 each).

Mysuru (5), Chikkamagaluru and Kodagu (4 each), Hassan and Bengaluru Rural (3 each), Vijayapura, Tumkur and Haveri (2 each) and Bidar, Belagavi, Davangere, Ramanagara and Chitradurga (1 each).

As many 144 patients are suffering from Influenza-like Illness (ILI) and 19 from Severe Acute Respiratory Infection (SARI).

In all, 5.68 lakh samples have been tested so far, of which 5.41 lakh tested negative.

Meanwhile, 178 patients are admitted in the ICU.

Of the total 180 deaths, Bengaluru Urban has accounted for 81, followed by Bidar (16), Kalaburagi (15), Ballari (9) and Dakshina Kannada (8), among others.

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News Network
June 15,2020

Mangaluru, Jun 15: A father and his four-year-old son were killed when their motorcycle was hit by a lorry from behind at Bakampady junction on the outskirts of the city.

The Police said the deceased has been identified as Abdul Bhasheer, a resident of Krishnapura and his son Shayan. 

On Sunday evening, Bahseer was going from Mangaluru to Krishnapura by the motorcycle along with wife and son when a speeding lorry "dashed into the motorcycle from behind and knocked them down''.

The four-year-old son died on the spot while Basher and his wife were rushed to the hospital. However, the husband succumbed to injuries at the hospital on Monday. Local police registered a case in this connection.

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