rubberproduct

Every rupee cut in excise duty on petrol and diesel will result in a revenue loss of Rs 13,000 crore.Unlike excise duty, VAT is ad valorem and results in higher revenues for the state when rates move up.The central government levies Rs 19."The government is keen that instead of having China Skeleton oil seal for sale an ad hoc measure, it may be desirable to have a long-term view which addresses not only the volatility but also takes care of the unnecessary ambiguity arising out of frequent ups and downs.17.Pradhan was replying to questions on when consumers can expect relief from rising fuel prices.48 excise duty on a litre of petrol and Rs 15.27 a litre and diesel is priced at Rs 69. That process is underway," he had said."We are sensitive lets see how things are unfolding". The prices are at an all-time high. State sales tax or VAT varies from state to state.84 a litre, and Rs 9.The revisions continued till just before the general elections in 2004 when oil companies went slow and after a Congress-led UPA came to power the entire process was reviewed as the international oil prices started moving up.17 a litre on diesel.

He, however, did not elaborate on the solution or the holistic strategy.Petrol price has been hiked by Rs 3.68 on diesel in April.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre."For a long-term solution, Government of India is planning for a holistic strategy. In Delhi, VAT on petrol was Rs 15. Delhi has the lowest fuel price among all metros and most state capital due to lower incidence of local sales tax or VAT.33 on diesel.77 a lire and that on diesel by 13.Petrol in Delhi غير مجاز مي باشدts Rs 78.Rates at refinery gate were revised on fortnightly basis but not all of the desired hike was passed on to the consumers and that increase not passed on converted into a subsidy.State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) were in April 2002 given freedom to revise rates of petrol and diesel on 1st and 16th of every month based on average rate of benchmark international petroleum product prices and rupee-US dollar rates in the preceding fortnight.

The UPA government finally freed petrol price in June 2010 and the diesel rates were decontrolled by the current BJP government in November 2014.Last week, after a weekly meeting of the Union Cabinet Law Minister Ravi Shankar Prasad had stated that the government is working on a long-term solution to address the volatility and frequent revisions in rates. Hike in the international price of crude, fluctuation in the dollar and Indian currency ratio, and some of the tax issues are also there," he told reporters here. Petrol and diesel prices were today hiked for the 15th day in a row, taking the cumulative increase this month to the highest in at least five years. bringing petroleum products within the ambit of GST is one among them," he said. He also refused to say if the government is planning a cut in excise duty to provide relief to consumers.24 in Delhi since state-owned oil firms ended a 19-day pre-Karnataka poll hiatus to resume daily price revision on May 14.