Nation Current Affairs 01 Mar 2020 Vijayawada: Fuel pri ...

Vijayawada: Fuel prices rise again

DECCAN CHRONICLE.
Published Mar 1, 2020, 2:21 am IST
Updated Mar 1, 2020, 2:21 am IST
The state government has also reverted to the previous system of levying tax in vogue till January 29
Petrol in Visakhapatnam will go up by 52 paise and diesel 57 paise. They will be costlier in Vijayawada by 51 paise and 54 paise respectively. This is the second hike in the price of fuel within a month.
 Petrol in Visakhapatnam will go up by 52 paise and diesel 57 paise. They will be costlier in Vijayawada by 51 paise and 54 paise respectively. This is the second hike in the price of fuel within a month.

VIJAYAWADA: Within a span of one month, the AP government has again increased the tax levied by the state on petrol and diesel, making these fuels costlier. The new rates will come into effect from Sunday.

Petrol in Visakhapatnam will go up by 52 paise and diesel 57 paise. They will be costlier in Vijayawada by 51 paise and 54 paise respectively. This is the second hike in the price of fuel within a month.

 

The state government has also reverted to the previous system of levying tax in vogue till January 29. Earlier, it used to charge 31 per cent tax on petrol and collect an additional Rs 2 per litre for petrol. On diesel, it levied 22.25 per cent tax and additional Rs 2 per litre on the diesel sold.

The state government, however, changed the structure last month, wherein the additional amount was adjusted into the tax percentage. Accordingly, 35.2 per cent tax was being charged on petrol and 27 per cent on diesel. The move, to some extent, helped consumers as prices used to come down when the crude oil price fell in the international market.

 

However, taxmen from the government have found variations in revenues due to fluctuations in price per barrel of fuel. “We have decided to revert to the old system where a fixed amount will be charged in addition to the tax percentage,” a senior state GST official said.

As per the revised structure, 31 per cent of tax and additional Rs 2.76 per litre will be charged on petrol. Rs 3.07 per litre will be charged over and above 22.25 per cent tax on diesel.

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