Tax on Petrol
Tax On Petrol
|Price before Tax||36.08 /Ltr|
|Central Tax||17.98 /Ltr|
|State Tax||14.59 /Ltr|
|Retail Selling Price||68.65 /Ltr|
How will GST effect Petrol Prices?
|TAX ON Petrol||Petrol PRICE|
|90.27% (Current Tax Rate)||68.65 /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 January 2019 is 68.65 Rs./Litre
For Petrol, the Oil Marketing Companies (OMCs) charged a Price of 32.51 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 3.57 Rs./Litre. Hence if the tax on Petrol was NIL the Petrol would cost 36.08 Rs./Litre.
Central Tax (Excise Duty) levied on Petrol is 17.98 Rs./Litre. State Tax (VAT & Local Levies) levied on Petrol is 14.59 Rs./Litre.
Current Tax Rate levied on Petrol is 90.27%, i.e. you pay Rs. 32.57 as tax when you buy one Litre of Petrol which Retails at a Price of 68.65 Rs./Litre in New Delhi.
Chart of Tax on Petrol
Petrol Price Build Up
|Price Charged to Dealers||32.51||Rs/Ltr|
|VAT (including VAT on Dealer Commission)||14.59||Rs/Ltr|
|Retail Selling Price||68.65||Rs/Ltr|
|Tax on Petrol||90.27||%|
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