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 3,2020

Mangaluru,  May 3: An unidentified vehicle mowed down a 62-year-old security guard near Guruvayanakere, Belthangady taluk, on Saturday.

The deceased Lingappa Moolya was returning to his home in Guruvayanakere on a two-wheeler when the hit-and-run case took place. Police said he was hit by a truck. A guard at an ATM, Moolya was also an active member of the local Kulala Association.

A case was registered at Belthangady police station.

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News Network
June 14,2020

Mangaluru, June 14: Private schools under the aegis of Association of English Medium Schools in Dakshina Kannada and Udupi urged the State government to reimburse the arrears of the fee related to admission of students under the Right to Education (RTE) Act.

Speaking to newsmen here on Sunday association president Y. Mohammed Beary said the State government has not cleared the arrears for the last two years. “The 400 private schools in two districts have to get around Rs 2 crore,” he said and added that the overall arrears that the government has to pay to schools in the State are around Rs1,200 crore.

Mr. Beary said arrears have made the school managements like his, who collect annual fees of about Rs 20,000 from a student, hard to function. Due to lockdown from March the schools could not conduct annual examinations and hence they could not collect pending fees from parents.

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News Network
March 18,2020

Bengaluru, Mar 18: Karnataka Congress President DK Shivakumar on Wednesday met the Director-General of Police in Bengaluru and demanded police protection for Madhya Pradesh Congress MLAs and the removal of BJP workers from the hotel in Bengaluru, where the legislators are currently lodged.

"The (Madhya Pradesh) legislators have come here and have requested police protection, that is all. Let the police give them protection, our candidate (Digvijaya Singh) has come, let him meet the legislators. Why are BJP workers protecting them? We know that they are under threat and hence we need to vacate them (BJP workers)," Shivakumar told reporters here after the meeting.

"We will give protection to our men and that is why we are telling them they cannot stop us. They should be in a free and fair position. I have communicated to DGP that BJP needs to vacate," he added.

Earlier today, Congress' Rajya Sabha candidate from Madhya Pradesh and former chief minister Digvijaya Singh was placed under preventive arrest after he sat on a dharna near Ramada Hotel here, allegedly for not being allowed by police to meet the 21 Congress rebel MLAs lodged in a hotel.

"I am a Rajya Sabha candidate from Madhya Pradesh, voting is scheduled for March 26. My MLAs have been kept here, they want to speak to me, their phones have been snatched, the police is not letting me speak to them saying there is a security threat to MLAs," Singh told reporters.

Singh who sat on the dharna with a face mask on said: "We were expecting them to come back, but when we saw they're being held back, messages came from their families...I personally spoke to five MLAs, they said they're captive, phones snatched away, there is Police in front of every room. They're being followed 24/7," Singh said.

The development comes amid the political crisis in Madhya Pradesh after the exit of Jyotiraditya Scindia from the Congress party.

Scindia's departure was followed by 22 Congress MLAs resigning from the party as well as from the state legislative Assembly.

The resignation of these MLAs has left the Kamal Nath government below the majority mark.

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