MVS Posted October 6, 2018 Share Posted October 6, 2018 Anyone seen an official press release by Ministry of Finance with respect to reduction in Excise Duty by the Government? PPAC is also not updated the information. Curious to know which component of the Excise Duty is cut by the Union Government!! Jaitley is so smart!!! This time also he reduced the BASIC EXCISE DUTY which is being shared with States! So in effect, the cut taken by Central Government is 58% of ₹1.50, ie, just ₹0.87 https://t.co/Xfdqc4uEk5 Last time also he reduced BASIC EXCISE DUTY while keeping the Special Additional Excise Duty and Additional Excise Duty intact. Of course, if reduction is effected on the latter components, burden will be shared by Union alone!! Smart crooked tricks Jaitely reduced BASIC EXCISE DUTY as follows: Petrol = ₹4.48 to ₹2.98 Diesel = ₹5.66 to ₹4.16 Petrol (branded) = ₹6.33 to ₹4.83 Diesel (branded) = ₹8.69 to ₹7.19 When he increased EXCISE DUTY he assured that all comes to Union Govt kitty!!! https://t.co/I3vr0jhVwV Please note the situation when the BASIC EXCISE DUTY on Petrol was ₹8.48 and total EXCISE DUTY was ₹21.48. Union reduced excise duty twice ₹2 in Feb 2018 and now ₹1.50. Both times it is done from Basic EXCISE DUTY, so total burden taken by Union was 58% of ₹3.50 = ₹2.03 https://t.co/nyNlzKNJPO So what is this means for the Central Exchequer? When 1 litre petrol is sold, they get ₹17.98 as total EXCISE DUTY, Centre keeps out of this ₹16.73, ie, 93% and rest 7% shared with States! This is BJP's co-operative federalism. Awesome ? There is no one from opposition to call out this chicanery!! That is the beauty of Indian "democrazy"! Don't blame media panna pramukhs for their orgasms!! They are paid to fake it.. But what about the opposition? Leave that to your judgement!! Link to comment Share on other sites More sharing options...
MVS Posted October 6, 2018 Author Share Posted October 6, 2018 State la ki share ga vache basic exice duty lo cut chesi malli state lani tagincha mantunada ee Modi XXXXX kodukulu Link to comment Share on other sites More sharing options...
swarnandhra Posted October 6, 2018 Share Posted October 6, 2018 22 minutes ago, MVS said: When 1 litre petrol is sold, they get ₹17.98 as total EXCISE DUTY, Centre keeps out of this ₹16.73, ie, 93% and rest 7% shared with States! admin excise duty lo state share around 40% ani mention chesadu many times. ikkadenti 7% ani vundi. Link to comment Share on other sites More sharing options...
ravindras Posted October 6, 2018 Share Posted October 6, 2018 does it include 8 rupees road cess on diesel petrol per litre Link to comment Share on other sites More sharing options...
Husker Posted October 6, 2018 Share Posted October 6, 2018 1 hour ago, swarnandhra said: admin excise duty lo state share around 40% ani mention chesadu many times. ikkadenti 7% ani vundi. ah 7% amount lo 40% state share.. Link to comment Share on other sites More sharing options...
Kiran Posted October 6, 2018 Share Posted October 6, 2018 42% states, dantlo 6-7% AP anukunta Govt. dhi fixed excise duty. Where as states is % based. Last time price increase state got 2200 cr extra and Cbn gave 2rs waiver equivalent to 1100 cr back. States kuda fixed price pedithe baguntundhi. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.