Tax on Petrol
Tax On Petrol
|Price before Tax||37.34 /Ltr|
|Central Tax||19.98 /Ltr|
|State Tax||15.48 /Ltr|
|Retail Selling Price||72.80 /Ltr|
How will GST effect Petrol Prices?
|TAX ON Petrol||Petrol PRICE|
|94.97% (Current Tax Rate)||72.80 /Ltr|
If Petrol is Taxed on Prevailing GST Rates
Tax Rate on Petrol in India
The Retail Selling Price of Petrol in Delhi on 1 August 2019 is 72.80 Rs./Litre
For Petrol, the Oil Marketing Companies (OMCs) charged a Price of 33.78 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 37.34 Rs./Litre.
Central Tax (Excise Duty) levied on Petrol is 19.98 Rs./Litre. State Tax (VAT & Local Levies) levied on Petrol is 15.48 Rs./Litre.
Current Tax Rate levied on Petrol is 94.97%, i.e. you pay Rs. 35.46 as tax when you buy one Litre of Petrol which Retails at a Price of 72.80 Rs./Litre in New Delhi.
Chart of Tax on Petrol
Petrol Price Build Up
|Price Charged to Dealers||33.78||Rs/Ltr|
|VAT (including VAT on Dealer Commission)||15.48||Rs/Ltr|
|Retail Selling Price||72.80||Rs/Ltr|
|Tax on Petrol||94.97||%|
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