Markets

Hartal byte: Kerala has higher fuel prices than metros

Hartal byte: Kerala has higher fuel prices than metros

Petrol and diesel are among the five petroleum products besides crude oil, natural gas, and jet fuel, which are still under the old tax regime of excise duty (to be collected by the Centre) and Sales Tax (to be collected by States). "2007 was the only year when we saw an increase in tax-GDP ratio". While the tax share of large corporations have come down substantially, the tax share of fuel consumers and income tax payers has risen. Petrol and diesel prices are the highest in Mumbai with petrol being retailed at Rs 88.12 and diesel at Rs 77.32 per litre. Of this, 50 per cent is non-oil and 50 per cent is oil. Nowhere in the country are the fuel prices as exorbitant as in this Maharashtrian city. The state governments can choose to reduce state taxes to lighten the burden of the common man, but due to revenue pressures, not many are willing to take the bait.

While a cut in excise duty that the central government levies will impact fiscal deficit, states like Bihar, Kerala, and Punjab are not in a position to cut sales tax (or VAT), the official, who wished not to be identified, said. The case of over 400 petrol pumps on the Gurgaon side of Gurgaon - Rajasthan border, and truckers carrying additional tank load of diesel from Haryana which could be at the cost of additional cargo load which they can otherwise carry. First, base for calculating sales goes up which means higher collection and second, States also get 42 per cent of what the Centre earns.

In countries which are tax compliant, oil is taxed at a rate which is less than that in India.




A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis. "Some months it goes up and some months it comes down", he said.

Also, states levy Value-Added Tax and this has increased their profits. Located in the eastern part of the state, 200 km from Aurangabad, Parbhani has breached the Rs 90 mark, with petrol prices at Rs 90.05 per litre. A litre of petrol in the national capital now costs Rs 80.87, while it is Rs 88.26 in Mumbai.

The petitioner also alleged that the oil companies had stopped increasing the prices when the Karnataka election campaign was going on.


  • SpaceX launched a Falcon 9 with the satellite on Board

    SpaceX launched a Falcon 9 with the satellite on Board

    After three minutes, there have been regular separation of the first stage booster to return to Earth and further use. The rocket's second stage at that point achieved circle around 35 minutes after liftoff.
    Ramos wants world to fall in love with Spain's football again

    Ramos wants world to fall in love with Spain's football again

    I never wanted to hurt an opponent on the pitch, of course, so my conscience is really clear about what I did that night. Spain are now in London as they prepare to initiate their campaign in UEFA Nations League against England .
    Matt Patricia Had A Really Bad Debut As An NFL Head Coach

    Matt Patricia Had A Really Bad Debut As An NFL Head Coach

    It seemed to be a unusual play design that was entirely reliant on the Lions defensive backs falling for the misdirection. By the top of the second quarter, he'd more than erased the deficit he'd created in the game's first 20 seconds.
  • 'Inbred Tanning Bed,' Says Gary Cohn About Trump's IQ Level

    'Inbred Tanning Bed,' Says Gary Cohn About Trump's IQ Level

    Both men are accused in the book of effectively removing things from Trump's desk to prevent him from taking certain actions. Woodward then, clearly stunned, explains how Trump's own lawyer told the President: 'You can't testify.
    Indian Catholic nuns protest against bishop accused of rape

    Indian Catholic nuns protest against bishop accused of rape

    She has been denied justice by the Church, government and the police. "The Bishop should be punished", Sharma further said. The letter points out that several nuns have left the Church because of the actions of the bishop in the last five years.
    Russian Federation  launches its largest ever war games featuring 300,000 soldiers

    Russian Federation launches its largest ever war games featuring 300,000 soldiers

    Moscow has increased the number of its large-scale military exercises in the Caucasus, the Baltic and the Arctic in recent years. Russia´s previous military exercise in the region, Vostok-2014, was nearly half the size, with 155,000 soldiers participating.
  • Serena 'out of line' but both sides share blame says King

    Serena 'out of line' but both sides share blame says King

    He received praise from the ITF for his professionalism in one of the most controversial Grand Slam finals of all time . And if WTA players do feel strongly that umpires treat them more harshly then men, then this needs to be investigated.
    Gov. McMaster to order mandatory evacuations for SC coastal counties

    Gov. McMaster to order mandatory evacuations for SC coastal counties

    After passing the Cabo Verde Islands the system was not expected to pose a direct threat to land for at least several days. In South Carolina alone, more than 1 million residents and tourists are expected to flee from coastal areas, Gov.
    Top White House economist fact-checks Trump on GDP claim

    Top White House economist fact-checks Trump on GDP claim

    And while President Trump lying is a daily event, Fox News correcting or chastising him for lying is rare. Before taking office, Trump regularly accused federal officials of falsifying economic data.
  • 20,336 murders recorded in South Africa in one year

    20,336 murders recorded in South Africa in one year

    The minister, along with the South African Police Service's top management, is releasing the 2018 crime statistics in Parliament. A total of 20,336 people were killed between April 2017 and the end of March 2018, up from 19,016 the previous year.
    DUI charges against Mac Miller to be dropped

    DUI charges against Mac Miller to be dropped

    From 2016 to 2018, Mac Miller dated Ariana Grande . "Whether he's an addict or not, the way that Mac partied was not healthy". According to TMZ , the document notes that the 26-year-old's cause of death is "deferred", meaning the L.A.
    Patriots add WRs Coleman, Fowler

    Patriots add WRs Coleman, Fowler

    An electric touchdown threat at Baylor, Coleman's National Football League career still hasn't taken off as he would have hoped. The 15th overall pick in 2016's draft, Coleman was traded from the Cleveland Browns to the Buffalo Bills during the preseason.