Discover and read the best of Twitter Threads about #PetrolPriceHike
Most recents (4)
WARNING - Long thread @ptrmadurai @mkstalin
The union government seems to be in no mood to cut the excise duty. The FM @nsitharaman recently said that “State govts can give relief by reducing taxes or levies on petrol.”
How fair is that as SG is in NO Position to Cut ST / VAT.
The union government seems to be in no mood to cut the excise duty. The FM @nsitharaman recently said that “State govts can give relief by reducing taxes or levies on petrol.”
How fair is that as SG is in NO Position to Cut ST / VAT.
When it comes to petrol, the central government tax has gone up from Rs 10.39 per litre in 2014-15 to Rs 32.90 per litre now, a rise of 217%. This has led to a massive increase in tax collections from sale of petroleum products at the central government level. 
The ST/VAT earned by SG from petroleum products has remained largely flat between 2014-15 & 2020-21. It was at 1.1% of the GDP in 2014-15 & at 1% of the GDP in 2020-21. But GG tax has gone from 0.8% of GDP to 1.9% of GDP during same period leading to higher pump prices for P& D
Thread: “Eid se pehle petrol bomb ka tohfa”
People should know the truth rather than believing in conspiracies. #PetrolPriceHike was expected as crude oil prices were rising & this increase of Rs5.40 is actually lower than the increase in the cost of petrol.
1/N
People should know the truth rather than believing in conspiracies. #PetrolPriceHike was expected as crude oil prices were rising & this increase of Rs5.40 is actually lower than the increase in the cost of petrol.
1/N
The cost of petrol (base price) increased by Rs9.78. So, the govt actually reduced the taxes by Rs4.40 to not pass on the full increase
To give you the context, taxes on petrol are already the lowest where petroleum levy is reduced to zero & GST reduced from the standard 17%
2/N
To give you the context, taxes on petrol are already the lowest where petroleum levy is reduced to zero & GST reduced from the standard 17%
2/N
Taxes on petrol are at Rs11.48, the lowest since Nov-18 & 9.72% of retail price, the lowest since recallable memory
Govt has set a target of Rs610bn for FY22 to be collected in lieu of petroleum levy. Now that it is reduced to zero, it could result in higher fiscal deficit
3/N
Govt has set a target of Rs610bn for FY22 to be collected in lieu of petroleum levy. Now that it is reduced to zero, it could result in higher fiscal deficit
3/N
With #petrol hovering around ₹100, there are lots of discussions on how much #centre & states are making off one litre. As per one notice by @BJP4Keralam, Centre makes ₹19 whereas #Kerala makes ₹37 as taxes off one litre.
Being from the industry, I thought of putting up (1/5)
Being from the industry, I thought of putting up (1/5)
the taxes as detailed in ppac.gov.in here.
Petrol price is ₹ 37.31 at #Kochi 2day. Total Excise Dty is ₹32.9 (Basic ₹1.4, Addn ₹18, Special Addn ₹11 & Agri Cess ₹2.5). #Kerala tax is ₹24 (30.08% Vat+1% add Vat+ ₹1 cess).Dlr commission is ₹ 3.8 & hence (2/5)
Petrol price is ₹ 37.31 at #Kochi 2day. Total Excise Dty is ₹32.9 (Basic ₹1.4, Addn ₹18, Special Addn ₹11 & Agri Cess ₹2.5). #Kerala tax is ₹24 (30.08% Vat+1% add Vat+ ₹1 cess).Dlr commission is ₹ 3.8 & hence (2/5)
#Petrolpricehike #modieastindiacompany
6th October 2020,
Bombay
What are private companies?
Private companies are companies owned by share holders with promoters holding the maximum number of shares.
What is the purpose of private companies?
6th October 2020,
Bombay
What are private companies?
Private companies are companies owned by share holders with promoters holding the maximum number of shares.
What is the purpose of private companies?
The purpose of private companies is to earn maximum profit with minimum / efficient effort.
Will any private company create employment more than what is the bare minimum required?
No, in fact they will always try to get maximum work done by the minimum number of employees.
Will any private company create employment more than what is the bare minimum required?
No, in fact they will always try to get maximum work done by the minimum number of employees.
Will a private company work for public welfare and good?
No private company will work for public welfare or good unless they are able to get tax concessions of the same or bigger amount that they spend. Which is actually self defeating because the
No private company will work for public welfare or good unless they are able to get tax concessions of the same or bigger amount that they spend. Which is actually self defeating because the
