The big picture on fuel taxation
2 years, 7 months ago

The big picture on fuel taxation

Hindustan Times  

Prime minister Narendra Modi’s remarks on April 27, where he named some non-Bharatiya Janata Party ruled states and asked them to bring down taxes on petrol-diesel have expectedly created a political controversy. Data from the ministry of petroleum shows that most BJP ruled states seem to have a lower tax on petrol and diesel than the states Mr Modi named in his remarks. Value-added tax on fossil fuels is the only major source of own tax revenue for the states along with taxes on alcoholic beverages and stamp duties after the rollout of the Goods and Services Tax. Also, it would be naive to see the issue without the larger context of the brewing political economy crisis in fiscal federalism, where non-BJP-ruled states are increasingly resorting to unsustainable populist schemes to counter the BJP’s centralised welfare delivery narrative.

Tax States State Bjp Centre  petroleum  fuel  taxes  big  price  duties  taxation  picture  petroldiesel  centre  ruled  tax  states  state

History of this topic

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform
3 weeks ago

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform

Live Mint  

On Monday, India’s finance ministry did away with windfall tax on crude-oil products, petrol and diesel, ending a distortive imposition that had been put in place around mid-2022, soon after the Russia-Ukraine war sent oil prices soaring. This will relieve oil companies whose profit margins took a hit thanks to the Centre taking away a slice of their one-off profits …

India slashes windfall tax on domestic crude oil, removes export tax on diesel, aviation fuel
4 months, 3 weeks ago

India slashes windfall tax on domestic crude oil, removes export tax on diesel, aviation fuel

Firstpost  

Implemented in July 2022, the windfall tax aimed to curb private refiners’ preference for exporting fuel to capitalize on higher refining margins instead of domestic sales India has reduced the windfall tax on crude oil. Image used for representative purpose/Unsplash The central government has reduced the windfall tax on domestically produced crude oil to Rs 4,600 per tonne from the …

Maharashtra govt reduces VAT on petrol, diesel in Mumbai region. Check new prices
5 months, 3 weeks ago

Maharashtra govt reduces VAT on petrol, diesel in Mumbai region. Check new prices

Hindustan Times  

The Maharashtra government on Friday announced its decision to reduce Value Added Tax on diesel and Petrol for the Mumbai region. Deputy chief minister Ajit Pawar, while tabling the state Budget for 2024-25, said the government is reducing 24% to 21% of VAT on diesel for Mumbai, Navi Mumbai and Thane region. “Tax on diesel is being decreased from 24% …

Tax gap: Vehicles from Karnataka cross Goa border every evening to tank up
6 months ago

Tax gap: Vehicles from Karnataka cross Goa border every evening to tank up

New Indian Express  

KARWAR: Tanking up in Goa holds multiple meanings these days. As the sun sets, vehicles from Karnataka appear to form a queue to cross the checkpost in Karwar and enter Goa. With the Karnataka government raising sales tax on petrol and diesel, vehicle users from Karwar are making a beeline to petrol pumps close to the border, where petrol costs …

HD Kumaraswamy slams Karnataka government for fuel price hike: 'To fund schemes'
6 months, 1 week ago

HD Kumaraswamy slams Karnataka government for fuel price hike: 'To fund schemes'

India Today  

Union Heavy Industries and Steel Minister HD Kumaraswamy on Monday lashed out at the Congress-led Karnataka government for the recent hike in sales tax on fuel, which has made petrol and diesel costlier in the state. The Janata Dal leader said the fuel prices were hiked by Chief Minister Siddaramaiah-led government to fund Congress's guarantee schemes like Gruha Lakshmi in …

Congress hiked fuel prices as revenge for poll debacle: Karnataka LoP Ashoka
6 months, 1 week ago

Congress hiked fuel prices as revenge for poll debacle: Karnataka LoP Ashoka

New Indian Express  

BENGALURU: Hitting out at the state government for increasing petrol and diesel prices in Karnataka, Leader of Opposition in the Assembly R Ashoka claimed that the Congress-led dispensation is taking revenge on the people for defeating the party in the recent Lok Sabha polls. “During the previous BJP government, when fuel became costlier by just Re 1, the present CM …

Fuel prices hike in Karnataka: A look at petrol, diesel rates across the Indian states
6 months, 1 week ago

Fuel prices hike in Karnataka: A look at petrol, diesel rates across the Indian states

India TV News  

Amid the uproar over rising fuel prices in Karnataka, Chief Minister Siddaramaiah assured citizens that the government remains committed to keeping fuel prices reasonable. He emphasised that Karnataka's revised rates are still more affordable than those in neighboring states like Andhra Pradesh and Maharashtra. Even after this hike, our state's taxes on fuel remain lower than most South Indian states …

CM Siddaramaiah defends hike in petrol and diesel prices
6 months, 1 week ago

CM Siddaramaiah defends hike in petrol and diesel prices

Deccan Chronicle  

Bengaluru: Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. With the opposition BJP and its ally JD coming down heavily on the Congress government for increasing the petrol and diesel prices by Rs 3 and Rs 3.5 per litre respectively, Siddaramaiah said …

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'
6 months, 1 week ago

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'

India Today  

Karnataka Chief Minister Siddaramaiah on Sunday justified the petrol and diesel price hike in the state, highlighting the state's "reduced revenue", and said it would ensure funding for essential public services and development projects. Defending the decision, the Chief Minister said, “The Government of Karnataka has increased VAT on petrol to 29.84% and on diesel to 18.44%. We remain committed …

Karnataka BJP Criticizes Congress for Petrol and Diesel Price Hike
6 months, 1 week ago

Karnataka BJP Criticizes Congress for Petrol and Diesel Price Hike

Deccan Chronicle  

Mangaluru: BJP leaders have strongly criticized the Congress government in Karnataka for its recent decision to increase petrol and diesel prices in the state. "The Congress government in the state has bankrupted the treasury by implementing unscientific guarantee schemes and has now betrayed the people by increasing the prices of petrol and diesel," Bommai asserted on X. BJP Mangaluru Vibhag …

Petrol Becomes Costlier By Rs 3 Per Litre In Karnataka As State Govt Hikes Taxes
6 months, 1 week ago

Petrol Becomes Costlier By Rs 3 Per Litre In Karnataka As State Govt Hikes Taxes

ABP News  

Petrol prices in Karnataka surged by Rs 3 per litre after the state government increased tax on petrol and diesel. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka pic.twitter.com/rJDinVT6SK — ANI June 15, 2024 As per the Akhila Karnataka Petroleum Dealers Association, the cost …

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check latest rates
6 months, 1 week ago

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check latest rates

Hindustan Times  

Petrol and diesel prices in Karnataka have increased after the state revised sales tax on Saturday. As per the Petroleum Dealers Association, petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka, ANI reported. Petrol and diesel prices in Karnataka The price of petrol has surged by ₹3, bringing the rate Bengaluru to ₹102.84 …

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details
6 months, 1 week ago

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details

Live Mint  

Petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka as the state government decided to increase taxes on June 15, according to the Petroleum Dealers Association {{^adFree}} {{/adFree}} According to the notification, the sales tax on petrol has been increased from 25.92 percent to 29.84 percent, while the tax on diesel has risen …

Fuel prices in Karnataka rise by Rs 3 after state government hikes sales taxes
6 months, 1 week ago

Fuel prices in Karnataka rise by Rs 3 after state government hikes sales taxes

New Indian Express  

BENGALURU: Karnataka state government on Saturday hiked the fuel prices by Rs 3 following the hike in Karnataka Sales Tax on petrol and diesel. The state government in a notification on Saturday, announced that it had hiked the sales tax from 25.92 per cent to 29.84 per cent on petrol and from 14.3 per cent to 18.4 per cent on …

Karnataka: Petrol, diesel prices likely to go up as state govt revises sales tax; BJP reacts
6 months, 1 week ago

Karnataka: Petrol, diesel prices likely to go up as state govt revises sales tax; BJP reacts

India TV News  

The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. In a notification issued by the Finance Department, the government has hiked sales tax on petrol by 3.92 percentage points, from 25.92 to 29.84 per cent. BJP reacts BJP spokesperson Shehzad Poonawalla …

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
7 months, 1 week ago

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

Live Mint  

India has cut the windfall tax on petroleum crude to ₹5,700 per metric ton from ₹8,400 with effect from May 16, Reuters reported. Windfall Tax Movements The tax is revised every two weeks, and was similarly cut on May 1, only for petroleum crude to ₹8,400 a metric ton from ₹9,600. In April 2024, the windfall tax on petroleum crude …

Petrol sales up 12.3%; diesel slides 2.3% in April 2024
7 months, 3 weeks ago

Petrol sales up 12.3%; diesel slides 2.3% in April 2024

The Hindu  

India's petrol consumption soared 12.3% in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on May 01. Petrol sales of three state-owned firms, which control 90% of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in …

Lok Sabha polls | Palaniswami slams DMK, BJP on fuel prices, funds for disaster relief
8 months ago

Lok Sabha polls | Palaniswami slams DMK, BJP on fuel prices, funds for disaster relief

The Hindu  

AIADMK general secretary Edappadi K. Palaniswami on Wednesday, April 17, 2024 said the DMK’s promise of getting the prices of petrol and diesel reduced was not credible, as the ruling party, in the past three years, had not brought down Value Added Tax on diesel, contrary to its assurances during the 2021 Assembly election. In a statement issued on the …

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections
9 months, 1 week ago

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections

Hindustan Times  

Petrol and diesel prices are being reduced by ₹2 per litre, Union petroleum minister Hardeep Singh Puri announced on Thursday. “By slashing petrol and diesel prices by ₹2, prime minister Narendra Modi has once again shown that providing welfare and convenience to his family of crores of Indians, has always been his goal,” Puri wrote in a post on X. …

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri
11 months, 2 weeks ago

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri

Deccan Chronicle  

New Delhi: Ahead of Lok Sabha polls this year, the probability of a cut in prices of petrol and diesel has been ruled out by the government as Union petroleum minister Hardeep Singh Puri on Wednesday clarified that there’s no proposal to cut fuel prices, while the media reports are ‘speculative’. The statement by the oil minister comes amid several …

Petrol and diesel prices on July 26: Check latest rates in your city today
1 year, 4 months ago

Petrol and diesel prices on July 26: Check latest rates in your city today

Hindustan Times  

Petrol and diesel prices were revised by the oil marketing companies on Wednesday. As per the latest revision of rates, petrol in Delhi cost ₹96.72 per litre while the diesel rate stood at ₹89.62 per litre. In India's financial capital Mumbai, petrol was being sold at ₹106.31 per litre while the price of diesel stood at ₹94.27 per litre. In …

Petrol and diesel prices on April 10. Check prices in your city
1 year, 8 months ago

Petrol and diesel prices on April 10. Check prices in your city

Hindustan Times  

The cost of petrol and diesel in India remained stagnant on Monday, continuing a ten-month trend of price stability. Prices were last revised in May 2022 after the Finance minister Nirmala Sitharaman announced to slash the excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively. The government controls the fuel prices through excise duty, …

Congress asks the government why it can’t pass on the benefit of lower crude prices to consumer
1 year, 9 months ago

Congress asks the government why it can’t pass on the benefit of lower crude prices to consumer

The Hindu  

Attacking the government over prices of petrol and diesel, the Congress on Wednesday asked why the Narendra Modi government has not passed on the benefit of reduction in international crude oil prices to consumers. Addressing a press conference, Congress spokesperson Gourav Vallabh also asked besides the public sector refineries, which private refineries benefited from cheaper Russian crude oil and at …

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?
1 year, 9 months ago

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?

News 18  

Even as crude oil prices have fallen significantly following the bank collapses in the US, including Silicon Valley Bank and Signature Bank, the prices of petrol and diesel are unlikely to come down in India. According to a CNBC-TV18 report quoting sources, prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies …

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report
1 year, 9 months ago

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report

News 18  

Prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies have to recover accumulated losses of Rs 18,000 crore due to high crude prices in earlier quarters, according to a CNBC-TV18 report quoting sources. Petrol prices in India have been stagnant since May 2022, when Finance Minister Nirmala Sitharaman reduced the prices …

DC Edit | Time to bring petroleum products under GST ambit
1 year, 10 months ago

DC Edit | Time to bring petroleum products under GST ambit

Deccan Chronicle  

Union finance minister Nirmala Sitharaman was speaking on behalf of most Indians on the biggest reform they would like to see implemented immediately when she spoke of the Central government, under Prime Minister Narendra Modi’s leadership, being willing to bring petroleum products, including petrol and diesel, under the ambit and framework of the Goods and Services Tax, if a consensus …

Petrol will be brought under GST once states agree: FM
1 year, 10 months ago

Petrol will be brought under GST once states agree: FM

Live Mint  

New Delhi: Once states make up their mind on the timing of including crude oil and select petroleum products into Goods and Services Tax and determine a tax rate, these will be subsumed into the new indirect tax system, Finance Minister Nirmala Sitharaman said at an event. In response to a question on the roadmap for bringing petroleum and select …

Diesel prices hiked in Himachal Pradesh by the new Congress government
1 year, 11 months ago

Diesel prices hiked in Himachal Pradesh by the new Congress government

Op India  

On Sunday, January 8, the Congress government in Himachal Pradesh increased the value-added tax on diesel from 6.40 per cent to 9.96 per cent per litre. Notification issued by the government of Himachal Pradesh Apparently, the newly-elected Congress government has forgotten its pre-poll promise that the Congress party, if voted to power, will not increase fuel prices in the state. …

Petrol prices high in six non-BJP ruled States due to high VAT: Puri
2 years ago

Petrol prices high in six non-BJP ruled States due to high VAT: Puri

The Hindu  

Petroleum Minister Hardeep Singh Puri said on Thursday that petrol prices remained high in six non-BJP ruled States of West Bengal, Tamil Nadu, Andhra Pradesh, Telangana, Kerala and Jharkhand as the State governments had not reduced value-added tax. High crude prices Asserting that currently petrol prices in India were one of the lowest, Mr. Puri said oil marketing companies together …

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today's Fuel Rates Here
2 years ago

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today's Fuel Rates Here

News 18  

Fuel prices in the major cities of India remained unchanged for yet another day despite the ongoing fall in crude oil prices in the international market. In New Delhi, a litre of petrol costs Rs 96.72, whereas diesel is being sold at Rs 89.62 per litre. 96.72 per litre Diesel: Rs. 87.89 per litre Lucknow Petrol: Rs.Rs 96.57 per litre …

BJP\'s loot continues even when global crude oil price fall: Cong on high fuel rates
2 years ago

BJP\'s loot continues even when global crude oil price fall: Cong on high fuel rates

Deccan Chronicle  

NEW DELHI: Congress president Mallikarjun Kharge and Rahul Gandhi on Thursday hit out at the government over high prices of petrol and diesel in the country and said the BJP's "loot" continues even when global crude oil prices were down in the last few months. Former Congress president Rahul Gandhi on Thursday said while global crude oil rates have come …

Petrol, Diesel Latest Prices: Find out Fuel Rates Today In Mumbai, Delhi, Other Cities
2 years, 3 months ago

Petrol, Diesel Latest Prices: Find out Fuel Rates Today In Mumbai, Delhi, Other Cities

News 18  

The petrol and diesel prices in India remained the same on Monday, September 19. On May 21, the centre announced an excise duty cut on fuel, reducing the petrol price by Rs 8 per litre and diesel price by Rs. In Delhi, the petrol rate stands at Rs 96.72 per litre whereas a litre of diesel is retailing at Rs …

Petrol, Diesel Latest Prices Announced: Check Petrol Price Today In Delhi, Mumbai, Other Cities
2 years, 3 months ago

Petrol, Diesel Latest Prices Announced: Check Petrol Price Today In Delhi, Mumbai, Other Cities

News 18  

Petrol and diesel prices have remained steady as of Saturday, September 10, following the three-month-old trend. 102.63 per litre, while diesel prices here remained at Rs. Listed below are the petrol prices for various major cities in the country: Delhi Petrol: Rs 96.72 per litre Diesel: Rs 89.62 per litre Mumbai Petrol: Rs 106.31 per litre Diesel: Rs 94.27 per …

Nirmala Sitharaman links inflation, State fuel taxes
2 years, 3 months ago

Nirmala Sitharaman links inflation, State fuel taxes

The Hindu  

Emphasising that it was unfair to blame the Centre for some States’ higher price levels, Finance Minister Nirmala Sitharaman said on Thursday that States that have not cut fuel taxes are recording inflation rates higher than the national average and mooted a Centre-State co-operation mechanism to handle price rise matters. But the fact remains, and I find, coincidentally, and I …

Petrol Price Today Above Rs 100 in These Cities; Check Petrol, Diesel Price in Delhi, Kolkata, Others
2 years, 3 months ago

Petrol Price Today Above Rs 100 in These Cities; Check Petrol, Diesel Price in Delhi, Kolkata, Others

News 18  

The prices of the two major auto fuels remain unchanged on Thursday, September 8. 8 per litre and on diesel by Rs. According to the announcement by state taxation minister James PK Sangma in August, petrol and diesel prices were raised by Rs 1.5 per litre. 102.63 per litre while the rate of diesel is Rs. Check Petrol, Diesel Prices …

Petrol, Diesel Price Today Announced: Check Fuel Rates in Delhi, Kolkata, Other Cities
2 years, 3 months ago

Petrol, Diesel Price Today Announced: Check Fuel Rates in Delhi, Kolkata, Other Cities

News 18  

The Indian oil marketing companies have left the rates of petrol and diesel unchanged for another day on September 5, Monday, as well. 8 per litre and the diesel price came down by Rs. 96.83 per litre in Shillong while diesel there is priced at Rs. 106.03 per litre and the diesel in the city costs Rs. Here you can …

Petrol, Diesel Price Today Below Rs 100 Delhi; Check Fuel Rates in Mumbai, Other Cities
2 years, 4 months ago

Petrol, Diesel Price Today Below Rs 100 Delhi; Check Fuel Rates in Mumbai, Other Cities

News 18  

Petrol and diesel rates in the major cities of India have remained unchanged for three months now on August 22. 5 per litre and on diesel by Rs. In Kolkata, the rate of petrol per litre is Rs. 106.03 while that of diesel, per litre, stands at Rs. Check the fuel rates in different cities on August 22, here: Delhi …

What is Windfall Tax and Why Has Govt Reduced it on Fuel Export, Domestic Crude Oil?
2 years, 5 months ago

What is Windfall Tax and Why Has Govt Reduced it on Fuel Export, Domestic Crude Oil?

News 18  

To provide relief to oil producers and refiners in the country, the Centre has reduced the recently implemented cesses and levies on diesel and aviation turbine fuel. Recent Cut in Windfall Taxes, Levies The Centre cut the windfall tax on diesel and aviation fuel shipments by Rs 2 per litre. On July 1, the central government slapped export duties on …

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%
2 years, 5 months ago

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%

Firstpost  

The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It scrapped Rs 6 a litre tax on export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4 New Delhi: Shares of firms related to oil exploration and refineries were in …

Petrol, diesel price relief
2 years, 5 months ago

Petrol, diesel price relief

Hindustan Times  

One litre of petrol was available at ₹106.31 while a litre of diesel was priced at ₹94.27 a litre, on Friday, the day after the Maharashtra government reduced Value Added Tax on petrol and diesel. Prices of petrol and diesel per litre have reduced by ₹ 5.04 and ₹ 3.01 in Mumbai. Maharashtra chief minister Eknath Shinde on Thursday announced …

Maharashtra to cut petrol prices by ₹5/ litre and diesel prices by ₹3/litre
2 years, 5 months ago

Maharashtra to cut petrol prices by ₹5/ litre and diesel prices by ₹3/litre

Hindustan Times  

Maharashtra chief minister Eknath Shinde on Thursday announced that the state government had decided to cut value added tax on petrol prices by ₹5 per litre and diesel by ₹3 per litre. Happy to announce that new Government under CM Eknathrao Shinde has decided to reduce Petrol & Diesel prices by ₹5/litre & ₹3/litre respectively,” Fadnavis later tweeted. “A decision …

Transition from fossil fuels to renewable energy can pose fiscal challenges for India: study
2 years, 5 months ago

Transition from fossil fuels to renewable energy can pose fiscal challenges for India: study

The Hindu  

The global transition away from fossil fuels to renewable energy sources could trigger financial challenges for India and major developing countries such as Russia, Brazil and China because of their high dependence on revenues from fossil fuel, according to a study by the International Institute of Sustainable Development. The study finds that by 2050, overall fossil fuel revenues in Brazil, …

Petrol, diesel to get cheaper in Maharashtra as CM Eknath Shinde announces tax cut
2 years, 5 months ago

Petrol, diesel to get cheaper in Maharashtra as CM Eknath Shinde announces tax cut

Firstpost  

Maharashtra will reduce the Value Added Tax on fuel, bringing down the prices in the state, said new chief minister Eknath Shinde in one of his first decisions after winning the trust vote The Maharashtra Government will reduce value-added tax on fuel soon, Chief Minister Eknath Shinde informed the state Assembly on Monday. — Eknath Shinde - एकनाथ शिंदे July …

Government will review new export taxes levied on crude, diesel and ATF every fortnight: Nirmala Sitharaman
2 years, 5 months ago

Government will review new export taxes levied on crude, diesel and ATF every fortnight: Nirmala Sitharaman

Firstpost  

Union Finance Minister Nirmala Sitharaman said that the government does not want to discourage export, but wants domestic availability to increase New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said the government will review every fortnight the new taxes levied on crude, diesel and ATF based on international prices. “We do not want to discourage export, but want domestic …

Govt to review new taxes levied on crude, diesel, ATF every fortnight, says Nirmala Sitharaman
2 years, 5 months ago

Govt to review new taxes levied on crude, diesel, ATF every fortnight, says Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Friday said the government will review every fortnight the new taxes levied on crude, diesel and ATF based on international prices. "We do not want to discourage export, but want domestic availability to increase," Ms. Sitharaman told reporters in New Delhi. The government on Friday slapped an export tax on petrol, diesel and jet fuel …

Domestic Crude Oil Sector: What New Rules Say; Will They Impact Petrol, Diesel Prices?
2 years, 5 months ago

Domestic Crude Oil Sector: What New Rules Say; Will They Impact Petrol, Diesel Prices?

News 18  

As the government has deregulated the domestically produced crude oil, the producers will now have an option to sell their oil in the domestic market to whoever pays the highest price, including private players. Currently, there is a condition in the production sharing contracts for crude oil producers to sell the oil to the government or its nominee or government …

Data Point | Explaining India’s recent fuel tax cuts
2 years, 6 months ago

Data Point | Explaining India’s recent fuel tax cuts

The Hindu  

It’s a relief that the Union government has cut the fuel tax. A look at the developments that preceded the recent excise duty cuts: After weeks of incremental increases in fuel prices, Union Finance Minister Nirmala Sitharaman announced that the Union government is slashing fuel taxes. Her point was that the cut of Rs 8 per litre came from the …

Petrol, Diesel Prices Drop in Delhi, Mumbai, Other Cities; Check Latest Fuel Rates Today
2 years, 6 months ago

Petrol, Diesel Prices Drop in Delhi, Mumbai, Other Cities; Check Latest Fuel Rates Today

News 18  

Petrol, Diesel Prices on Thursday: Prices of petrol and diesel has remained unchanged across the country on Thursday, May 26. Following the government’s decision petrol price was cut by Rs 8.69 per litre while diesel was reduced by Rs 7.05 in the national capital on Sunday. Following the central government’s announcement on excise duty cut, the Kerala government announced a …

Fuel Prices Drop After Excise Duty Cut; Check Petrol, Diesel Price in Your City Today
2 years, 6 months ago

Fuel Prices Drop After Excise Duty Cut; Check Petrol, Diesel Price in Your City Today

News 18  

Petrol, Diesel Prices on Wednesday: Third day in a row the prices of petrol, and diesel were kept unchanged on Wednesday after the finance minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel on Saturday. Following the central govwenment’s announcement on excise duty cut, the Kerala government …

India trims taxes on fuel, commodities to fight inflation
2 years, 7 months ago

India trims taxes on fuel, commodities to fight inflation

Al Jazeera  

The steps will lead to a drop in annual revenues due to lower collections, raising concerns on India’s fiscal deficit. Finance Minister Nirmala Sitharaman announced on Saturday a cut in excise duty on petrol by 8 rupees per litre and 6 rupees per litre on diesel. The new tax regime on petrol and diesel could result in the government losing …

Discover Related