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
With this 10 crores what are they supposed to do ? It does not work out to them.
WHAT is wrong when our ELECTED LEADERS celebrate the DIAMOND JUBILEE OF VIDHANASOUHDA..KARNATAKA PRIDE.... people /kanadigas must be PROUD of...as any one ask when Political leaders visit and crores are spent...what will be the cost ot HUGE PARTY of 75000 bike riding from all over KARANTAKA..do you think bike owners will participate without benefit.... what kind of TRAFFIC MESS WILL BE THIS... is this not MONEY... We people must consider celebration of any KARNATAKA PRIDE with out leaders...
Whether the Secretariat has heeded to CM's advice? and "..... With this, the plan to gift expensive items to the lawmakers during the celebrations has been dropped." Is it only for the time being and will they get the gifts later on in their office in a "Low Key affair" where nobody will come to know.
Aiyoo swami. Navu irode heege. Foriegn tripu (to study foriegn culture and system and implement in Karnataka), Vidhan Souda habba, seperate religion for lingayats, seperate flag for Karnataka etc etc. All these things must be done by CM and MLA's only. Otherwise the public will get angry that they have voted for non-performers. No other Govt has even thought about this. Great. Really great. Before next election, Siddu, please plan another foriegn trip along with your ministers and MLA's to study the road in developed countries. Ram Linga, neenu England di ge hogi, Scotland Yard police salehe togoli Gouri Lankesh killers na hege hidiyodu anta. Good chance to make a foriegn trip. Nobody will question. Book now. Family noo karkondu hogi. You cannot eat the food there. Your wife can make Jola da rotti with olle mosaru. Bombatu trip. If you have some other plan, then do not take your wife. Alli bread sigute.
Udaya Kumar chennagi helidiri. Innondu maatu. All these at the taxpayers money. Lancha hodiyodu allade kittu kondu tinnodu. Naachike illa ivarige.
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