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
April 19,2020

Bengaluru, Apr 19: As many as 25 new cases of coronavirus have been reported in the State till now, said Karnataka's Health Department.

"25 new COVID-19 cases reported in the State from 5 pm Friday to 5 pm on Saturday. The total number of positive cases in the State is 384 including 14 deaths and 104 discharges," added the Health Department.

The Health Department has appealed to the doctors, who are willing to volunteer in the fight against coronavirus, to reach out to the government.

A total of 14,378 COVID-19 cases have been confirmed in the country so far, with 480 deaths being reported due to the virus.

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News Network
March 14,2020

Bengaluru, Mar 14: Infosys carried out evacuation at one of its satellite offices here on Friday after an employee came in contact with a suspected case of COVID-19, according to the company.

"We have taken a decision to evacuate one of our satellite buildings in Bengaluru as a precautionary measure, as one of our employees had been in contact with an individual with suspected COVID-19," the company said in its statement.

"Employees have been directed to work from home, and there is no impact on our client deliverables as a result of this temporary evacuation," it added.

On the other hand, Google also informed media on Friday that an employee at its Bengaluru office has tested positive for the COVID-19 and the firm has directed all its employees in that office to work from home as a precautionary measure.

"We can confirm that an employee from our Bangalore office has been diagnosed with COVID-19. They were in one of our Bangalore offices for a few hours before developing any symptoms. The employee has been on quarantine since then," Google had said in a statement. The search engine giant has asked colleagues who were in close contact with the employee to quarantine themselves and monitor their health.

The World Health Organisation (WHO) has declared the coronavirus outbreak a pandemic.

Coronavirus, which originated in the Wuhan city of China, has so far spread to more than 100 countries infecting over 1,20,000 people. India has reported two deaths and 82 confirmed cases of the deadly coronavirus.

The World Health Organisation (WHO) had declared the coronavirus outbreak a 'pandemic' and expressed deep concern.

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News Network
April 10,2020

Bengaluru, Apr 10: With 10 new COVID-19 cases, Karnataka's tally of coronavirus cases has climbed to 207, the Karnataka government has said.

The 207 COVID-19 cases include 30 discharged and 6 deaths. Out of 10 new cases, 9 are close contacts of people who had earlier tested positive for coronavirus.

"10 more COVID-19 positive cases reported in Karnataka, taking the total number of positive cases in the state to 207, including 6 deaths and 30 discharged. 9 of the 10 new cases, are close contacts of people who had tested positive for the virus earlier," said the Karnataka government.

Meanwhile, the State Department of Health and Family Welfare has further notified 14 more COVID-19 dedicated hospitals in the state.

These hospitals include Bagalkot District Hospital, Chamarajanagar Institute of Medical Sciences, District Hospital Chikkaballapur, SNR District Hospital, Kandaya Bhavan Ramanagar, Tumkur District Hospital, Karwar Institute of Medical Sciences Uttara Kannada, Vijayapura District Hospital and Yadgiri District Hospital.

India's total number of coronavirus positive cases rose to 6,412 on Friday.

Out of the total cases, 5,709 are active patients and 503 of them have been cured/discharged, as per the Ministry of Health and Family Welfare.

With 30 new deaths reported in the last 12 hours, the toll stands at 199.

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