Please go through the News uploaded by us a day ago - Simplified Calculation Chart for Petrol & Diesel Prices in New Delhi - (24th August 2017) on the Blog.
It clearly shows that First of all we are paying Entry Tax. Than there is an Excise Duty of Rs 21.48 /- Litre on Petrol & Rs 17.33 /- Litre on Diesel. After that we have to pay a VAT of 27% on Petrol & 16.75% on Diesel, i.e. Rs 14.64 /- Litre on Petrol & Rs 8.44 /- Litre on Diesel.
It comes to 21.48 + 14.64, i.e. Rs 36.12 /- on Petrol + Entry Tax & 17.33 /- + 8.44 /-, i.e. Rs 25.77 /- on Diesel + Entry Tax. It clearly shows that more than HALF of what we pay for Petrol, goes to Government as TAXES, and almost half of what we pay for Diesel, goes to Government as Taxes.
Shockingly, they still keep on hiking the Petrol & Diesel prices, causing severe hike in consumer goods, which again results into huge gains for the Govt by way of hiked taxes on the hiked prices of the Consumer Goods.
It's being said that Under GST rules, the Tax can be levied at 12% only and hence there can be huge reduction in the price of both Petrol & Diesel. Unconfirmed reports have stated that the price of Petrol can come down to Rs 38 /- per Litre, under GST. Why don't they implement it and bring the Entire country under One Tax regime, for the benefit of masses ?
snapshots with thanks to AAJTAK
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