Petrol Price Tax Structure In India. Petrol price in india recorded its highest price for the month on 31st august while diesel was cheapest on multiple days of the month with a litre costing the tax structure for petrol and petroleum products is governed by the indian government. The reason is india's petroleum tax structure.
You pay 153% tax on Petrol in Mumbai from www.apnaplan.com Cleartax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in india. Petrol and diesel prices in india are affected by changing prices of crude oil. This is because the tax component accruing to both the centre and the states has significantly risen (from 31% of retail price for petrol in delhi in 2014 to.
The image below compares the retail prices of petrol and diesel in delhi since 2004 with the price of the indian crude basket (a mix of sour grade.
Tax at marginal rate would not hurt the consumers much but will benefit the industry in a big way. This makes sure that even a minute's variation in global oil prices can be transmitted to fuel users and dealers. The tax structure in india is divided into direct and indirect taxes. The retail petrol price available per litre in india includes all state and central taxes.
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