Tax on Diesel
Tax On Diesel
|Price before Tax||47.07 /Ltr|
|Central Tax||13.83 /Ltr|
|State Tax||10.49 /Ltr|
|Retail Selling Price||71.39 /Ltr|
How will GST effect Diesel Prices?
|TAX ON Diesel||Diesel PRICE|
|51.67% (Current Tax Rate)||71.39 /Ltr|
If Diesel is Taxed on Prevailing GST Rates
Tax Rate on Diesel in India
The Retail Selling Price of Diesel in Delhi on 19 November 2018 is 71.39 Rs./Litre
For Diesel, the Oil Marketing Companies (OMCs) charged a Price of 44.52 Rs./Litre from its Dealers. This price includes the Refinery Transfer Price (RTP - Price paid by the OMCs to Refineries), Marketing Cost, Margin, Freight and Other charges. The Commission paid by the OMCs to its Dealers is fixed at 2.55 Rs./Litre. Hence if the tax on Diesel was NIL the Diesel would cost 47.07 Rs./Litre.
Central Tax (Excise Duty) levied on Diesel is 13.83 Rs./Litre. State Tax (VAT & Local Levies) levied on Diesel is 10.49 Rs./Litre.
Current Tax Rate levied on Diesel is 51.67%, i.e. you pay Rs. 24.32 as tax when you buy one Litre of Diesel which Retails at a Price of 71.39 Rs./Litre in New Delhi.
Chart of Tax on Diesel
Diesel Price Build Up
|C&F (Cost & Freight) Price||87.07||$/bbl|
|Average Exchange Rate||72.58||Rs/$|
|Price Charged to Dealers||44.52||Rs/Ltr|
|VAT (including VAT on Dealer Commission)||10.49||Rs/Ltr|
|Retail Selling Price||71.39||Rs/Ltr|
|Tax on Diesel||51.67||%|
Historical Diesel Price Build-Up Trend
Petrol price is a deregulated commodity, price of which is decided by our oil marketing companies based on input cost and other parameters.
~ Veerappa Moily