Pakistan Govt Likely To Increase Price Of Fuels Amid Financial Crisis
Amid the economic crisis, the Pakistan Government is likely to increase the prices of petrol and diesel. As per local media, petrol and diesel prices are likely to increase by Rs 32 per litre from February 16. Notably, Petroleum, oil and lubricant prices have increased and is Rs 272 for the next fortnight, forcing the Government of Pakistan to increase the prices, giving another major shock to its citizens.
Tags: Pakistan Government, fuel prices hike, Petrol, Diesel
Courtesy: India Today
UP CM Yogi Adityanath Says VAT On Petrol, Diesel Will Not Be Raised
Uttar Pradesh Chief Minister Yogi Adityanath declared on July 29 that the state's VAT on fuel and diesel is the lowest in the country and that there will be no increases in the near future. At his official house, the Chief Minister discussed the current condition of tax collection in the state with officials from the state Tax Department. Finance… read-more
Tags: VAT, Diesel, Petrol, CM Yogi Adityanath, Uttar Pradesh
Courtesy: DNA INDIA
Maharashtra Government Lowers Cost Of Petrol, Diesel By Rs 5 & Rs 3, Respectively
The Shinde-Fadnavis administration lowered VAT on petrol by Rs 5 per litre and on diesel by Rs 3 per litre, causing a loss of Rs 6,000 crore annually in the face of growing inflation and falling rupee. The VAT decrease will take effect from midnight on July 14. The Maharashtra government has decreased the VAT on petrol to Rs 14.43 per litre and diesel to Rs 12.54 per litre.
Tags: Maharashtra , fuel prices, Petrol, Diesel, reduced
Courtesy: Free Press Journal
Govt Imposes Windfall Tax On Domestic Crude Oil; Export Tax On Petrol, Diesel
Government imposed taxes on petrol and ATF exports of Rs 6 per litre and diesel exports of Rs 13 per litre on July 1. Government also imposed an additional tax of Rs 23,230 per tonne on locally produced crude oil to offset windfall benefits flowing to producers from high international oil prices. The export tax follows oil refiners, notably the private sector, who profit enormously from exporting fuel to international markets.
Tags: Exports, Central Government, tax, Petrol, Diesel
Courtesy: Free Press Journal
After Over 100 Days, Petrol Retailing For Less Than Rs 100
Petrol and diesel prices in India remained stable on June 12. Despite a recent increase in global crude oil prices, the fuel costs have remained unchanged for over three weeks. On June 12, petrol was priced at Rs 96.72 per litre in Delhi, while diesel was priced at Rs 89.62. In several cities, petrol is presently available for less than Rs 100.
Tags: Petrol, Diesel, Excise Duty, Delhi, Fuel
Courtesy: Zee News
Tamil Nadu BJP President K Annamalai Booked For Protesting Against Fuel Prices
Tamil Nadu BJP president K Annamalai has been booked for leading a protest which witnessed a footfall of 5,000, demanding the state government to reduce the petrol and diesel prices, on May 31. Annamalai stated that the central government has reduced the fuel prices and asked the state governments to do the same. He alleged that DMK promised to reduce fuel prices in their manifesto.
Tags: fuel prices, Petrol, Diesel, DMK, K Annamalai
Courtesy: Hindustan Times
Tamil Nadu BJP Chief Demands DMK Government To Lower VAT On Fuel Prices
K Annamalai, BJP's Tamil Nadu unit chief, questioned why DMK kept the state VAT higher than the excise duty levied by central government. He urges DMK administration to reduce petrol and diesel costs by Rs 2 and Rs 4 per litre, respectively. According to him, they should also provide a Rs 100 subsidy on cooking gas. Other states, excluding Tamil Nadu, decreased their fuel rates after Centre reduced Excise Duty.
Tags: Tamil Nadu, BJP, Petrol, Diesel, VAT
Courtesy: Indian Express
BJD MP Amar Patnaik Retaliates Against States Lowering Fuel VAT
Amar Patnaik, Rajya Sabha MP and BJD leader retaliated at the Centre after it urged states to decrease VAT on petrol and diesel. During the lockdown, the Centre had dramatically increased excise tax, imposed extra excise duty, and had large revenue from cess, which was not shared with states. Odisha government will review its own resource base to determine whether additional VAT reductions are conceivable without jeopardising people's welfare… read-more
Tags: Odisha government, Petrol, Diesel, VAT, Excise Duty
Courtesy: India Today
Centre Slashes Fuel Prices By Rs 8.69 For Petrol, Rs 7.05 For Diesel
Central Government gave relief to people, as it reduced petrol price by Rs 8.69 a litre and diesel by Rs 7.05 per litre, on May 22. The excise duty on auto fuels has been cut, taking the petrol cost in Delhi to Rs 96.72 a litre and Diesel at Rs 89.62 per litre. Furthermore, rates of fuel depend on the VAT charges imposed by respective state governments.
Tags: Central Government, Petrol, Diesel, Indian government, VAT Charges
Courtesy: Press Trust of India
Centre Reduces Excise Duty On Petrol By ₹9.5 Per Litre & Diesel By ₹7 Per Litre
Union finance minister Nirmala Sitharaman said on May 21 that the Centre has chosen to decrease the national excise duty on petrol by ₹8 per litre and diesel by ₹6 per litre. The measure would lower the price of petrol by ₹9.5 per litre and diesel by ₹7 per litre. "It will have a revenue implication of around ₹1 lakh crore per year for the government," finance minister said.
Tags: Petrol, Diesel, central excise duty, Union Finance Minister, Nirmala Sitharaman
Courtesy: Hindustan times