Breaking News Central Government hiked Excise Duty in Petrol and Diesel

[IndianMascot]

I am talking about waking at 8 only yaar. Tomorrow is Sunday na

 

[Technoglitch]

Superb news for Devesh.

 

[IndianMascot]

No hike in petrol, diesel prices despite higher excise duty


“There will be no change in retail prices of petrol and diesel for now,” a top oil company official said. “We are not passing on the excise duty hike as of now.”

The increase in excise duty on the fuels is likely to yield an additional revenue of about Rs 3,200 crore to the government during the rest of the current fiscal.

The government had collected Rs 99,184 crore in excise collections from the petroleum sector in 2014-15. This was Rs 33,042 crore in the first quarter of current fiscal.

The basic excise duty on unbranded or normal petrol was increased from Rs 5.46 per litre to Rs 7.06 a litre, according to a CBEC notification.


No hike in petrol, diesel prices despite higher excise duty | The Financial Express

 

[DashMajor]

I thought price hiked again

Yesterday night at 1 am I shared the same news but found THAKUR 4K to reshare it.

 

[Prateek Marwadi]

The government late last night raised excise duty on petrol and diesel to mop up additional revenue to meet budgetary targets.

No hike in petrol, diesel prices despite higher excise duty - Moneycontrol.com

 

[IndianMascot]

Price actually not hiked as per the article i have shared. Isn't it Devesh bhai ?

 

[Prateek Marwadi]

Price actually not hiked as per the article i have shared. Isn't it Devesh bhai ?

yes. n whenever price ll b hiked in international then this excise duty ll b reduced so that a common man should not b affected.
n anyhow if the war starts in the middle east then international crude prices ll shoot up to 150 per barrel

the prices r reduced bcoz of the arab countries as they r in takkar with america.

 

[IndianMascot]

n whenever price ll b hiked in international then this excise duty ll b reduced so that a common man should not b affected.

How excise duty plays role in controlling prices ? Pls elaborate.

 

[Prateek Marwadi]

How excise duty plays role in controlling prices ? Pls elaborate.

bhai ji. only example :
petrol prices comes from 100 rs - 80 rs so 20 rs less but govt. reduced only 10 rs so 10 rs difference is the excise duty which is increasing tax revenues.
now when the prices ll move again to 100 rs then govt. ll reduce excise duty.

so ultimately consumer is paying the same amount but govt. is taking benefits as tax revenues r increasing.
if tax revenues ll b increased then indian economy ll b upgraded by foreign agencies n rating authorities.
then more n more investment ll come n ll benefit to indian economy n than us.

example when u were around 20 then 1 lacs per month was a huge task but now 1 lakhs is not a big task.
bcoz of the fdi that was introduced. have u got my point bro ?

 

[Sanjeev]

bhai ji. only example :
petrol prices comes from 100 rs - 80 rs so 20 rs less but govt. reduced only 10 rs so 10 rs difference is the excise duty which is increasing tax revenues.
now when the prices ll move again to 100 rs then govt. ll reduce excise duty.

so ultimately consumer is paying the same amount but govt. is taking benefits as tax revenues r increasing.
if tax revenues ll b increased then indian economy ll b upgraded by foreign agencies n rating authorities.
then more n more investment ll come n ll benefit to indian economy n than us.

example when u were around 20 then 1 lacs per month was a huge task but now 1 lakhs is not a big task.
bcoz of the fdi that was introduced. have u got my point bro ?

but if they are so obsessed with fdi so why haven't they allowed Congress to bring it that time ab khud karenge to jay jay kar aur koi aur kiya to haay haay