Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: list of goods taxed at 4% :: TDS :: VAT Audit :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 Tax-saving for young earners simplified
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case

Petrol now at Rs 54.98 per litre, LPG cylinder Rs 334
June, 09th 2008

The hike in the fuel prices that had been the cause of much anxiety in the city was finally implemented from Saturday. Surprisingly, while a mere rumour about a hike in fuel prices had caused a furore in the city last week, the actual implementation of hiked prices was received without any murmur of protest.

After the revision, the price of a litre of petrol now stands at Rs 54.98 while that of diesel is Rs 38. The price of an LPG gas cylinder is Rs 334.43.

The impact of the hike was felt on Saturday which was the first day of its implementation. On Saturday, people were apprehensive about the prices, which caused a slight dip in the sales, but the sales were back to normal soon after, said Vijay Bhave, divisional president of the All India LPG distributors Federation. The State Governments decision to waive the octroi and the Pune Municipal Corporations initiative to waive the four per cent of VAT brought down the price of the cylinder from Rs 358.30 to Rs 334.43, he added.

Baba Dhumal, president of the Pune Petrol Dealers Association echoed Bhaves views. In Pune city, the VAT and octroi that were waived brought down the revised price of both petrol and diesel by two per cent. The hike has not brought about much change in the demand of fuel, said Dhumal.

However, a representative from an oil marketing company said that as the panic buying had caused a lull in the buying pattern, the revoking of octroi and VAT didnt have the desired impact. The rumours of the hike sparked panic buying. By the time the actual hike in the fuel prices were announced and implemented, the inventories of the consumers were already full. Hence, even though the prices of the petrol and diesel were brought down due to the VAT and octroi waiver, the purchase of fuel didnt shoot up, he said, adding that the purchasing pattern of the consumers was expected to be back to normal, by Monday.

On an average, HPCLs Loni Kalbhor petroleum terminal sold around 600 KL of petrol and over 900 KL of diesel. However, after the hike, only 400 KL of petrol and 800 KL of diesel have been purchased, officials said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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