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
January 6,2020

Bengaluru, Jan 6: A delegation of Christians, led by Peter Machado, archbishop of Bengaluru, met chief minister BS Yediyurappa on Sunday and sought an amicable solution to the issue of installing a statue of Jesus Christ atop Kapalibetta in Harobele village, Kanakapura taluk.

Yediyurappa is learnt to have assured the delegation of doing the needful and said he would take a decision after the revenue department submits its report. The department is looking into various aspects of the issue, including the sanction of 10 acres of land for the purpose.

“The meeting was cordial and the chief minister lent us a patient hearing. Our only request was to settle the issue in a way that is acceptable to all sections of society,” Machado said. Congress functionary and Kanakapura legislator DK Shivakumar had laid the foundation stone for the 114-foot statue of Christ on Kapalibetta on Christmas Day at an event organised by the Harobele Kapalibetta Development Trust, which plans to install the statue.

The issue took a political hue when BJP functionaries objected, saying the land sanctioned to the trust is part of gomala (reserved for cattle grazing) land and any religious activity there would be illegal. Revenue minister R Ashoka sought a report and department officials said they would submit it in a week’s time.

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News Network
April 27,2020

Madikeri, Apr 27: Four labourers, who were travelling to Kerala via Makutta on foot, were stopped by Karnataka Forest Department officials and handed over to police.

Police said on Monday that the labourers identified as Anish, Radhakrishna, Shrinil and Prabhakar, who were working in the Coffee plantations in Chembellur and Ontiyangadi. As the roads to Kerala were sealed following lockdown, they were held up in the district.

The forest guards, who spotted them walking through the forest area, brought them back to the town as per the directions of the higher officials last evening. DCF Shivashankar, ACF Konerira Roshni and Ranger Arun Kumar were present.

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News Network
January 9,2020

Mangaluru, Jan 9: Customs officials seized 1.575 kg gold, worth about, Rs 63 lakh from three passengers who arrived from Dubai here at Mangalore International Airport on Thursday.

Official sources said that in the first incident, three days back gold weighing 336.7 grams was found in possession of an inbound air passenger. The passenger who arrived by Air India flight from Dubai had concealed the gold in his socks. The value of the seized gold is estimated to be Rs 13.43 lakh.

In the other two instances that took place on January 7, gold weighing 1239 gram and worth about Rs 50.3 lakh was confiscated from two passengers who arrived from Dubai by Air India flight. One of the passengers had attempted to smuggle 523 gram gold in paste form.

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