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Kalal Tax Imposed - Rs.10 for petrol & Rs.13 for diesel (1 litre) !
Posted on: 06/May/2020 11:55:20 AM
Kalal Tax has been raised for petrol at Rs. 10 per litre and for diesel, Rs. 13 per litre. However, the central government has assured that the retail sales prices will NOT be affected.
With the raging coronavirus pandemic across the globe in most countries, the price of the crude oil in the international market has come down. With the earnings increased due to the reduction in crude oil price, the central government has plans to utilize this against the losses incurred due to the present lockdown conditions imposed and as such, it has increased the Kalal Tax for diesel and petrol.
Accordingly, the special additional tax on petrol has been increased by Rs. 2 per litre and the Cess Tax has been increased by Rs. 8. For diesel, the special additional price increase is Rs. 5 per litre, and the Cess Tax increase is Rs. 8 per litre.
It is informed that this increase will not affect the retail sales and this trend will be monitored by Oil stock market agencies. It is estimated that the central government will earn additional revenue of Rs. 160000 Crores through the above new taxes.
It is expected that this additional revenue may be utilized for the projects of improvement in Indian infrastructure facilities!
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