GET Stock QuotesNews18 APP
News18 English
»
1-min read

What Would Petrol and Diesel Prices be if they were Taxed Under GST?

An analysis by Factly.in, a website that makes public data meaningful, indicates that prices of petrol and diesel would be lower than what they are currently, even if they were taxed at the highest slab of 28%.

News18.com

Updated:September 14, 2017, 1:00 PM IST
facebookTwittergoogleskypewhatsapp
What Would Petrol and Diesel Prices be if they were Taxed Under GST?
Representative image
New Delhi: Dharmendra Pradhan has backed the inclusion of petroleum products under GST, saying this is the only way to rationalise prices.

But, what would the level of fuel prices be under the Goods and Services Tax? An analysis by Factly.in, a website that makes public data meaningful, indicates that prices of petrol and diesel would be lower than what they are currently, even if they were taxed at the highest slab of 28%.

Petroleum products are currently not under GST and each state has its own tax structure, because of which the prices of petrol and diesel vary state wise. Domestic fuel prices have touched a three year high, even though international crude oil prices have been trending downward since June 2014. In July 2014 the Indian crude basket was $109.05 per barrel, which declined to $53.63 p/b in September 2017.

However, domestic fuel prices have been moving in the opposite direction, leading to a public outcry.



petrol GST1

Petrol gst2

Diesel GST1

diesel gst2

Also Watch

Read full article
Most Active
Company Price Change %Gain
SBI 253.90 +9.45 +3.87
Ashok Leyland 140.90 +6.60 +4.91
Strides Shasun 392.05 +51.05 +14.97
PC Jeweller 191.70 +25.75 +15.52
HDFC 1,810.00 -9.20 -0.51
Company Price Change %Gain
SBI 254.15 +9.05 +3.69
PC Jeweller 190.95 +24.80 +14.93
Strides Shasun 392.20 +51.20 +15.01
Emami 1,022.80 +3.40 +0.33
Asian Paints 1,286.10 -13.90 -1.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,009.60 +116.55 +6.16
Bajaj Finserv 5,971.80 +249.75 +4.36
Tata Motors 307.70 +11.80 +3.99
SBI 253.90 +9.45 +3.87
Coal India 279.05 +8.80 +3.26
Company Price Change %Gain
Dr Reddys Labs 2,013.75 +119.40 +6.30
Tata Motors 307.75 +11.20 +3.78
SBI 254.15 +9.05 +3.69
Bajaj Auto 2,811.25 +91.35 +3.36
Coal India 278.45 +8.70 +3.23
Top Losers
Company Price Change %Gain
IOC 160.50 -4.65 -2.82
UltraTechCement 3,755.55 -96.70 -2.51
Bharti Infratel 315.85 -5.85 -1.82
TCS 3,508.90 -47.85 -1.35
ITC 278.75 -3.60 -1.28
Company Price Change %Gain
TCS 3,508.05 -49.90 -1.40
ITC 278.80 -3.30 -1.17
Asian Paints 1,286.10 -13.90 -1.07
Axis Bank 523.30 -5.40 -1.02
Adani Ports 380.35 -3.45 -0.90