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”.

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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
June 26,2020

Udupi, June 26: BJP leader K Raghavendra Kini has been appointed as the new Chairman of Udupi Urban Development Authority (UUDA) by Government of Karnataka.

A well-known businessman, Raghavendra Kini is also serving as the president of Kunjibettu Consumers’ Multipurpose Co-operative Union.

Along with him, the State Government has appointed Suma Naika, Praveen Kumar Shetty and Kishor Kumar as members of the Authority.

Comments

How to apply t…
 - 
Friday, 24 Jul 2020

Hi Sir,

 

 

I have tried to reach the friday programme and in mid call disconnected and later not reachable.

 

Could you please let us know the process to apply the akrama sakrama land convert to residential purpose.

 

Kindly do the needfull.

 

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News Network
June 23,2020

Bengaluru, Jun 23: Karnataka Medical Education Minister K Sudhakar's wife and daughter have tested positive for COVID-19, a day after his father was confirmed to have been infected with the virus.

"Test results of our family members have come. Unfortunately, my wife and daughter have tested positive for #Covid19 and are undergoing treatment," the minister tweeted on Tuesday.

He said he and his two sons have tested negative.

Sudhakar's father P N Keshava Reddy tested positive for coronavirus on Monday. He was admitted to the hospital with a cough and fever.

Earlier, the domestic help of the minister had tested coronavirus positive and was admitted to a hospital.

In April, Sudhakar was quarantined along with three other ministers for coming in contact with a journalist who was coronavirus positive.

Karnataka reported 249 new COVID-19 cases and five deaths on Monday taking the total number of cases in the state to 9,399 and the death toll to 142.

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News Network
February 3,2020

Kasaragod, Feb 3: The third novel coronavirus case has been reported in India, with another Keralite student who returned from Wuhan University on Monday testing positive for the infection.

The medical student is in an isolation ward at Kanhangad government hospital in Kasaragod, Health Minister K K Shailaja informed the state assembly.

The condition of the student is "stable", she said.

Out of the 104 samples tested till Sunday, three have tested positive.

This is the third positive case reported from Kerala.

Two earlier positive cases, also of students who came back from Wuhan, the epicentre of the virus, were reported from Thrissur and Alapuzha districts.

The minister made the statement in the assembly under Rule 300 in the wake of three positive cases reported from the state.

A total of 1,999 people, who have a travel history from China and other affected countries, are under observation in Kerala, of whom 75 are in isolation wards of various hospitals.

The remaining 1,924 are under home quarantine as per a medical bulletin issued on Sunday night.

The minister has made it clear that those under observation at home should keep away from public functions and should not participate in any events or go out of their homes during the 28 day incubation period.

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