Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« General »
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall

Oil companies are losing Rs 725 cr daily on fuel sales
June, 04th 2008

The government has been deliberating on measures over oil prices through the last fortnight.

Meanwhile, the companies' losses rose from Rs 16.34 a litre to Rs 21.43 on each litre of petrol, Rs 23.47 to Rs 31.58 on diesel, Rs 28.72 to Rs 35.98 on kerosene and Rs 305.90 to Rs 352.90 per 14.2-kg cylinder of cooking gas. Together, the three firms are losing Rs 725 crore daily on fuel sales, up from Rs 580 crore.

In this scenario, even the proposed quantum of price rise will be totally ineffective in tackling the companies' plight unless these are accompanied by duty concessions.

And therein lies the catch, with petroleum minister Murli Deora and finance minister P Chidambaram differing on the measures.

While Deora is pushing hard for duty relief to limit the price shock to consumers in a poll-packed year, Chidambaram has been steadfastly refusing to disturb the duty regime.

The mix of crude oil that India buys averaged $124.02 per barrel in the second fortnight of May against $115.09 in the first fortnight.

The Indian basket was at $67 per barrel in February when petrol and diesel price were raised by Rs 2 and Re 1 a litre respectively. At prevalent global oil price range of $100-130 a barrel, Indias oil subsidy bill may shoot up three times to 2.2% of the GDP this year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions