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 26,2020

Bengaluru, Feb 26: The police remand of student activist Amulya Leona Noronha, who was produced before a Magistrate, after a no-show at the Metropolitan Magistrate Court, was extended by 10 more days.

The Fifth Additional Metropolitan Magistrate at the Magistrate's home on Tuesday night had remanded her to police custody for 10 days, less than the 14 days asked for by the Special Investigative Team, considering that she has already spent over four days in judicial custody.

Amulya Noronha, a student of NMKRV College for Women, had raised pro-Pakistan slogans by shouting ''Pakistan Zindabad'' at an anti-CAA protest in Bangalore on 20th February following which the city police filed a case of sedition against her.

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News Network
January 20,2020

Chamarajanagara, Jan 20: Karnataka High Court Judge P G M Patil has said that it was the responsibility of the judiciary to ensure that justice was not delayed.

He was speaking at a function marking the inauguration of the first and second floors of the district courts in Chamarajanagar town here last evening. He said that the role of the judiciary was critical in establishing justice in society and hence all efforts must be made to ensure that there was no delay in securing justice.

He observed that the district court has been provided with better amenities that should be utilized for the benefit of the public. The district is no longer backward. It has shown progress and development in recent years and has produced three HC judges, Justice Patil added.

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News Network
January 30,2020

Mangaluru: The police team investigating the case of bomb planting at the international airport here on January 20, took suspect Aditya Rao to several places in the city where he had frequented in the past few months, police said on Wednesday.

Police had earlier recovered a box from his bank locker at Udupi that contained a white powder which he claimed was cyanide. The substance has been sent to the Forensic Science laboratory for confirmation.

On further interrogation, Rao told police that he had a locker in a bank in Mangaluru also, where he was taken. Only some papers were seen in the locker, police said. He was also taken to the room where he stayed while he was working at a hotel in Balmatta here and to a hardware workshop from where he had purchased some spare parts, they said.

A 'live' explosive device was found in an unattended bag near a ticket counter of the departure gate of the airport here on January 20, triggering a scare before it was defused at a nearby open ground.

Police had released a picture of a man captured on CCTV camera as the suspect who placed the bomb and Rao later surrendered. Meanwhile, sources said the airport authorities got an anonymous call on Monday evening that a bomb had been planted in the airport. After thorough search, it was found to be a hoax. City police commissioner P S Harsha has warned of stringent action against those who make such calls.

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