Tax on Petrol
Tax On Petrol
|Price before Tax||39.45 /Ltr|
|Central Tax||17.98 /Ltr|
|State Tax||15.50 /Ltr|
|Retail Selling Price||72.93 /Ltr|
How will GST effect Petrol Prices?
|TAX ON Petrol||Petrol PRICE|
|84.87% (Current Tax Rate)||72.93 /Ltr|
If Petrol is Taxed on Prevailing GST Rates
Tax Rate on Petrol in India
The Retail Selling Price of Petrol in Delhi on 16 April 2019 is 72.93 Rs./Litre
For Petrol, the Oil Marketing Companies (OMCs) charged a Price of 35.89 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 3.56 Rs./Litre. Hence if the tax on Petrol was NIL the Petrol would cost 39.45 Rs./Litre.
Central Tax (Excise Duty) levied on Petrol is 17.98 Rs./Litre. State Tax (VAT & Local Levies) levied on Petrol is 15.50 Rs./Litre.
Current Tax Rate levied on Petrol is 84.87%, i.e. you pay Rs. 33.48 as tax when you buy one Litre of Petrol which Retails at a Price of 72.93 Rs./Litre in New Delhi.
Chart of Tax on Petrol
Petrol Price Build Up
|Price Charged to Dealers||35.89||Rs/Ltr|
|VAT (including VAT on Dealer Commission)||15.50||Rs/Ltr|
|Retail Selling Price||72.93||Rs/Ltr|
|Tax on Petrol||84.87||%|
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