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
February 16,2020

Mangaluru, Feb 16: An elderly woman from Tamil Nadu was on Saturday reunited with her daughter and son after 14 years at the Mangaluru's White Doves destitute home.

"Mary only knew her name when she came here 10 years ago. Recently, she told us about her home town," Corrine Rusquinha, founder of White Doves told media.
Mary had gone missing 14 years ago from her hometown Kortampet in Tamil Nadu.

"Ten years ago, she was spotted by Mangaluru police who brought her to White Doves home late one evening. Initially, she could only speak Tamil, so it was presumed she was from Tamil Nadu. She was on psychiatric treatment," Rusquinha said.

A few days back, a visiting priest at the White Doves home spoke to Mary in Tamil and asked about her hometown.

"Surprisingly, she could recall the name of her hometown, following which the visiting priest contacted the pastor at Kortampet. Mary's family, including her daughter Gnana Anthony, who is a paramedic student in Coimbatore, was informed about Mary," she said.

Soon after, Gnana and her elder brother came to Mangaluru to take their mother back to their home.

Mary's husband Jhonson, who worked as a cook, had died within a year of losing his wife.

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News Network
May 17,2020

Bengaluru, May 17: Karnataka Government on Sunday decided to appoint Administrative Committees, to over 6000 Panchayat Bodies, in the state, who’s five-year term would comes to an end this month.

Speaking to the media here, the Karnataka Panchayat Raj Minister, K S Eshwarappa informed that the state cabinet met recently had favored to appoint committees which would replace the elected bodies.

Informing that there is provision in the Panchayath Raj Act to appoint the committees, he said that the concerned Deputy Commissioners of the district, would appoint the members, to the committee, who were eligible to be nominated to the committees.

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News Network
March 4,2020

Bidar, Mar 4: The Principal District and Sessions Court in Bidar, on Tuesday, granted conditional bail to five functionaries of Shaheen School management — Abdul Qadeer, Allauddin Pasha, Mehtab Sait, Bilal Inamdar and Abdul Khaleq — who moved anticipatory bail in a sedition case slapped against their school recently.

Conditions

Senior advocate B.T. Venkatesh from Bengaluru argued for the petitioners. Managoli Premavati Mallikarjuna granted bail on certain conditions, including execution of personal bond of ₹2 lakh each.

The sedition case was filed against the Shaheen School management for its children staging a play as part of their annual day celebrations on January 21, in which a character had allegedly delivered a dialogue against Prime Minister Narendra Modi.

While Nazbunnisa, the mother of the child who had allegedly delivered the dialogue in the play, and Fareeda Begum, the headmistress of the school, were arrested, they were subsequently released on bail last month.

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