Tax on Petrol
Tax On Petrol
|Price before Tax||40.6 /Ltr|
|Central Tax||19.48 /Ltr|
|State Tax||16.22 /Ltr|
|Retail Selling Price||76.30 /Ltr|
How will GST effect Petrol Prices?
|TAX ON Petrol||Petrol PRICE|
|87.93% (Current Tax Rate)||76.30 /Ltr|
If Petrol is Taxed on Prevailing GST Rates
Chart of Tax on Petrol
Tax Rate on Petrol in India
The Retail Selling Price of Petrol in Delhi on 23 July 2018 is 76.30 Rs./Litre
For Petrol, the Oil Marketing Companies (OMCs) charged a Price of 36.98 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 3.62 Rs./Litre. Hence if the tax on Petrol was NIL the Petrol would cost 40.6 Rs./Litre.
Central Tax (Excise Duty) levied on Petrol is 19.48 Rs./Litre. State Tax (VAT & Local Levies) levied on Petrol is 16.22 Rs./Litre.
Current Tax Rate levied on Petrol is 87.93%, i.e. you pay Rs. 35.7 as tax when you buy one Litre of Petrol which Retails at a Price of 76.30 Rs./Litre in New Delhi.
Petrol Price Build Up
|C&F (Cost & Freight) Price||$/bbl|
|Average Exchange Rate||Rs/$|
|Price Charged to Dealers||Rs/Ltr|
|VAT (including VAT on Dealer Commission)||Rs/Ltr|
|Retail Selling Price||Rs/Ltr|
|Tax on Petrol||%|
Historical Petrol 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