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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coastaldigest.com news network
March 19,2020

Mangaluru, Mar 19: The officers of Directorate of Revenue Intelligence, on March 11 intercepted 2 persons - Syed Mohammed and Shri Ashoka K S - Mangalore Central Railway Station and recovered 5.6 Kgs of gold bars in crude form.

The operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Calicut to Mangaluru. The gold was then re-melted and cast into 100 gms bars with foreign markings, using foreign marking moulds, and was then getting distributed to various locations in Karnataka.

Further, one Mr. Manjunath Shet alias Rupesh who was supposed to receive the said gold from the passengers was also apprehended at the parking lot of the railway station.

Simultaneous searches were conducted in three different premises in car street Mangaluru, Udupi, and Shivamogga.

Further, the source of the gold was traced to melters/jewellers in Calicut and swift follow up action was conducted leading to seizures of gold and Rs 82 lakh Cash. Two cars of Toyota Etios model belonging to the syndicate having specially designed cavities for concealment which were used for transporting cash and gold between Calicut and Mangaluru were also seized.

Naveen Chandra Kamath of Udupi, who is the master mind involved in the case was also apprehended. Overall 7 persons were arrested during the entire operation. Further investigation is ongoing in the said case to uncover the other persons involved in the racket. The total seizure was 9.3Kgs of gold, valued at approximately 4 crores, 5.2 kgs of silver along with Rs 84 lakh in cash.

The team constituted of 40 officers from Bengaluru, Mangaluru and Shivamogga took part in the co-ordinated effort.

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News Network
April 13,2020

Shivamogga, Apr 13: Banana farmers in Shivamogga say their crop is rotting and they are incurring huge losses amid lockdown due to COVID-19.

The farmers alleged that although permission has been granted for the sale of agricultural products, with inter-district movements being affected, the local buyers are forcing the farmers to sell their produce at ridiculously low prices.

"Local buyers are asking us to sell bananas at Rs 4-5 per kg which is impossible for us. I do not know what we can do," Vijayendra, a farmer told ANI here.

"We expected the markets to be good during the summer season, I have cultivated bananas in four acres of land. There are thousands of other farmers who cultivate it in smaller hoardings," he added.

The farmer further implored the government to ensure there is an open market and inter-district movement of agricultural produce is allowed to ensure the farmers get the right price.

Vijayendra also said that the bananas have started rotting as they were not being harvested due to the lockdown.

Prime Minister Narendra Modi had last month announced a 21-day lockdown in the entire country effective from March 24 midnight to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.

There is also the likelihood that the nationwide lockdown might further be extended even after the completion of the 21-day period on April 14, based on the statements from several chief ministers following a video conference with the Prime Minister held a few days earlier.

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News Network
April 21,2020

Bengaluru, Apr 21: Alarmed by reports that 53 media persons have contracted coronavirus in Maharashtra, a Minister on Tuesday urged Chief Minister B S Yediyurappa to screen all the journalists in Karnataka.

During the regular Covid-19 related briefing on Monday, a reporter had raised the issue of 53 journalists in the neighbouring state testing positive for the disease, with Minister for Primary and Secondary Education S Suresh Kumar.

In Maharashtra, out of the 171 scribes examined medically, 53 were found to have the viral infection.

In his letter to the CM, Kumar said a similar test should be carried on the journalists in Karnataka.

"The journalists wanted a similar kind of screening to be carried out on them. Therefore, please direct the health and the information department immediately to conduct the screening of journalists who are in contact with public," Kumar said.

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