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
It is pre-planned murder,,,tmrw musthafa is to be released from jail
Those who r congratulating for the murder, please go and do it by yourself and feel proud. No... you cant do and u will never do it bcoz it will spoil ur future and your family.
Yererna ammana mage jaild kuriyinda kuriyad nank daane atthe.
Be a human first
Some ppl r happy for the above news..Now kiran will meet d same fate by someone else.
Its easy to type and comment congratulating kiran, but saddna tho kiran ko hai.
Kiran wait for your turn...
This is expected.........Accused considered as culprit.......
In reality culprit ruling the nation...........
falsehood bound to persish.truth prevails.....
For a Mumin if die in the cause of Truth or win both same..... both considered as victory
Indeed great news ... tax payer money saved ,billawa youth prashanth pujari atmakke shanthi sikthu ... good job kiran ... terrorists and criminals must meet the same fate ...
Inna Lillahi wa inna ilaihi rajioon
God is great, he dispensed justice inside the jail.
60% Cops are to be considered as terrorist.
Strange, encounter in jail.......Muslims have to suffer everywhere in the name of terrorism.....
Strange, How the criminals get lethal weapons in the Jail????
why the jail is providing them entertainment channel, So, this is the reason people do not hesitate to commit crime. Because they are getting everything in the Jail and leading a lavish lives over there.
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