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
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday directed a trial court in Ramanagara district of Karnataka to ensure the presence of absconding self-styled godman Swami Nithyananda to face trial in a 2010 rape case.

A bench headed by Chief Justice SA Bobde also allowed a plea by K Lenin alias Nithya Dharmananda, former driver of Nithyananda and had filed a complaint against Nithyananda, for cancellation of non-bailable warrants issued against him.

The apex court ordered the cancellation of the non-bailable warrants issued against the complainant in the case on the condition he shows up before the trial court in Ramanagara district today itself.

He had challenged the Karnataka High Court's February order where non-bailable warrants were issued against Lenin for not appearing before the court for recording evidence.

"Having heard the counsel appearing for the petitioner and upon perusal of the record, we see no reason to interfere with the judgment and order passed by the High Court, which merely directs the petitioner to give evidence in support of his complaint," read the apex court order passed on Tuesday.

The Bench also directed that "the concerned trial court shall make every effort to ensure the presence of accused (Nithyananda) to face the proceedings."

The Karnataka High Court had last month cancelled the bail granted to Nithyananda, even as the state police claimed the absconding godman was on a 'spiritual tour'.

Nithyananda is facing charges of rape and indulging in unnatural sex. He was arrested on April 22, 2010, however, granted bail on June 11, the same year.

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coastaldigest.com news network
April 30,2020

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

Comments

Kannadiga
 - 
Thursday, 30 Apr 2020

Can he explain give few wordd about Daniel Varghese  the founder of UAE exchange.

Who is the person shattered his fate .

 

 

 

 

 

 

 

 

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News Network
March 13,2020

Bengaluru, Mar 13: India has registered the first confirmed case of death due to novel coronavirus. A 76-year-old man from Karnataka's Kalaburgi who passed away recently has been tested positive for Covid-19.

The doctors had suspected that the man had coronavirus, however, the test had not confirmed it.

In an official notification, a senior health official in Karnataka government Dr Suresh Shastri said that the lab test has confirmed that the deceased man had Covid-19.

"The 76-year-old man from Kalburgi who passed away and was a suspected COVID 19 patient has been confirmed for COVID 19. The necessary contact tracing, isolation and other measures as per protocol are being carried out. Telangana government has also been informed since he went to a private hospital there," Dr Suresh Shastri said.

The same information was also shared by Karnataka health minister B Sriramulu.

A senior Union health ministry official said in New Delhi that the death of the man had visited Saudi Arabia from January 29 to February 29. The official said the man had reached in Hyderabad on February 29 and went to Kalaburagi in Karnataka.

State Joint Director (Communicable Diseases) BG Prakash Kumar said all protocols were followed for disposal of the body.

"The body is disinfected completely and disposed of as per the Government of India guidelines," he added when asked to elaborate on the protocols.

He said the Telangana government has also been informed as the man had gone to a private hospital in Hyderabad earlier.

While announcing the death of the man on Tuesday, the state authorities had said the exact cause his death was being ascertained.

According to the Union health ministry official, "While he was asymptomatic on his return (from Saudi Arabia), he developed symptoms of fever and cough on 6th March. One private doctor visited him at his home and treated him there."

"On 9th March, the symptoms got aggravated and he was shifted to a private hospital in Kalaburagi. In this private hospital, he was provisionally diagnosed as 'mid-zone viral pneumonia' and 'suspected Covid-19'," the official said.

"The sample was collected on March 9... Without waiting for the test results, the attendees insisted and the patient was discharged against medical advice and the attendees took him to a private hospital in Hyderabad," the official said.

The patient was admitted to a private hospital in Hyderabad and treated. He died on Tuesday when he was being brought back to the Gulbarga Institute of Medical Sciences (GIMS) in Kalaburagi.

Apart from the deceased, Karnataka has confirmed five other positive cases of the novel coronavirus. The fifth case, confirmed on Thursday is of a 26-year-old man who recently returned from Greece.

The patient has been admitted and isolated at a hospital and his condition is stable, a department media bulletin said.

The day also saw the education department declaring summer holidays for students from kindergarten to class six and study leave for higher classes in the city as a precautionary measure.

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