With the inclusion of Petrol and Diesel under the GST, there will be a taxation of 28% and an additional value added tax which makes it obvious that there are no chances of a price reduction of the fuels. Currently the tax imposed on petrol per liter is 19 rupees and 48 paise, while the tax imposed per liter of diesel happens to be 15 rupees and 33 paise. Besides, the state governments have been imposing the VAT as well. Thanks to this taxation, half of the petrol and diesel prices are attributed to the state and central government taxes itself.
As a least tax, only Andaman and Nicobar islands have 6% sales tax. With regards to Petrol, Mumbai has 39.12 % sales tax, and Telangana has 36% sales tax, with tax being 45-50 % of petrol price, and 30-35% of diesel price. While it was earlier misguided that inclusion of petrol and diesel under GST will help reduce prices, it has been revealed that it will actually increase the price of the fuels.
It is based on the price of crude
oil in international market that the rates of fuels are determined, and during
Karnataka elections, there was a pause in price increment, and immediately post
the election result, the prices were raised by more than 4 rupees.
While it was learnt that reducing excise tax will result in loss for the
government to the tune of `13000 crores, now the government is planning to
impose GST on Petrol and Diesel.
Kollywood Actors pitch in for Cyclone Gaja According to sources as rescue operations are underway in cyclone Gaja affected areas of Tamilnadu’s coastal and delta districts, several actors from the state have stepped forward to do their bit. As per report it was stated that actors Sivakumar, Suriya, Karthi and Jyotika have together announced a donation of Rs 50 Lakh from their production house 2D Entertainment as relief fund for
- Why Pawan halted his Praja Porata Yatra abruptly & left to Mumbai?
- California Wildfire death toll Rose to 80
- What astrologers say various political entities in Telangana elections 2018?
- Andhra Man found under Moving Train, Escaped miraculously Watch this VIDEO!
- PM Narendra Modi inaugurated Kundli-Manesar-Palwal (KMP) Expressway in Gurgaon
- Telangana Polls : TRS Vs Mahakutami - Ramana promises Mahakutami will bring down KCR family
- Revanth Ready set to score a hat-trick this time
- Dog meat controversy catches fire!
- CM yet to visit Delta - The reasons?
- People surround ministers in Orathanadu!
- Rain warnings for Delta districts!
- Not mandatory to provide Aadhaar to appear for Neet, UGC & CBSE exams
- TN DMK Party contributes 1 crore towards Cyclone relief activities
- Why Donald Trump stops Military Aid to Pakistan?
- Prabhas is in talks with a motor bike company for endorsement deals