The Government of Native indian vide its aware No.P-20029/18/2001-PP old 16th Jan , 2003, advised "The Irrecoverable Taxes Agreement Scheme", 2002 to create up the oil companies for irrecoverable situation taxation to aid in smooth transformation from the used expenses system to the market recognized expenses system.
The system provided for settlement to Oil marketing and Enhancing companies in respect of irrecoverable situation taxation billed by the States/ local professionals such as Accessibility Tax on Raw, Fee on income tax, CST/Purchase tax on inter company income of oil items and any other irrecoverable taxation. The settlement was set off with the quantity being collected by OMCs through the person cost variety under the go 'State Surcharge' for the period 2002-03. The 'state surcharge' aspect in the cost create up confident that the event of any irrecoverable tax of the particular situation was restored from the particular situation. The quantity of 'State Surcharge' has remained the same since then.
Over the last several decades, oil companies have been having difficulties improving level of under-recoveries due to irrecoverable taxation because of following aspects :
a) New irrecoverable costs by Condition Governments
b) Changes in Condition tax elements etc
c) Excessive enhance in the expenses of oil and oil items in the globally trading markets and producing enhance on the taxes
d) Development of Shop Advertising Prices of the oil Products and producing enhance of the taxes
As a impact of the above described aspects, the irrecoverable taxation have gone through decrease in some declares and enhance in others. Thus, there was a need to assessment the said system to create the encourage sensible on a state-to-state platform to indicate decrease in expenses in declares where the irrecoverable taxation have gone through reduce and impact enhance in expenses in declares where the said taxation have been enhanced as well as to reduce the stress of the OMCs due to irrecoverable taxation. Accordingly it has been determined to implement the enhanced structure of 'state particular cost (SSC)' to secure the irrecoverable taxation w.e.f evening time of 24/25 Sept, 2012.
As a impact of the said adjustment, HSD expenses shall take a place reduced in 11 declares. SKO(PDS) expenses shall take a place reduced in 9 declares, LPG(Dom) expenses shall take a place reduced in 12 declares and MS Prices shall take a place reduced in 11 States. In the same way, HSD Prices shall take a place enhanced in 7 declares, SKO(PDS) expenses shall take a place enhanced in 8 States, LPG(Dom) expenses shall take a place enhanced in 6 States and MS Prices shall take a place enhanced in 7 States.
The Effect of the alteration (excluding situation levies) in some of the declares is given in the table below :
The system provided for settlement to Oil marketing and Enhancing companies in respect of irrecoverable situation taxation billed by the States/ local professionals such as Accessibility Tax on Raw, Fee on income tax, CST/Purchase tax on inter company income of oil items and any other irrecoverable taxation. The settlement was set off with the quantity being collected by OMCs through the person cost variety under the go 'State Surcharge' for the period 2002-03. The 'state surcharge' aspect in the cost create up confident that the event of any irrecoverable tax of the particular situation was restored from the particular situation. The quantity of 'State Surcharge' has remained the same since then.
Over the last several decades, oil companies have been having difficulties improving level of under-recoveries due to irrecoverable taxation because of following aspects :
a) New irrecoverable costs by Condition Governments
b) Changes in Condition tax elements etc
c) Excessive enhance in the expenses of oil and oil items in the globally trading markets and producing enhance on the taxes
d) Development of Shop Advertising Prices of the oil Products and producing enhance of the taxes
As a impact of the above described aspects, the irrecoverable taxation have gone through decrease in some declares and enhance in others. Thus, there was a need to assessment the said system to create the encourage sensible on a state-to-state platform to indicate decrease in expenses in declares where the irrecoverable taxation have gone through reduce and impact enhance in expenses in declares where the said taxation have been enhanced as well as to reduce the stress of the OMCs due to irrecoverable taxation. Accordingly it has been determined to implement the enhanced structure of 'state particular cost (SSC)' to secure the irrecoverable taxation w.e.f evening time of 24/25 Sept, 2012.
As a impact of the said adjustment, HSD expenses shall take a place reduced in 11 declares. SKO(PDS) expenses shall take a place reduced in 9 declares, LPG(Dom) expenses shall take a place reduced in 12 declares and MS Prices shall take a place reduced in 11 States. In the same way, HSD Prices shall take a place enhanced in 7 declares, SKO(PDS) expenses shall take a place enhanced in 8 States, LPG(Dom) expenses shall take a place enhanced in 6 States and MS Prices shall take a place enhanced in 7 States.
The Effect of the alteration (excluding situation levies) in some of the declares is given in the table below :
Price Decrease :
| State |
HSD
|
SKO(PDS)
|
LPG (Dom)
|
MS
|
Rs./litre
|
Rs./litre
|
Rs./Cyl
|
Rs/ litre
| |
| Karnataka |
0.62
|
-
|
-
|
1.06
|
| Goa |
0.40
|
-
|
-
|
0.82
|
| Gujarat |
0.40
|
0.16
|
10.18
|
0.81
|
| Jharkhand |
-
|
0.14
|
-
|
0.55
|
| Tamil Nadu |
-
|
-
|
7.01
|
0.76
|
| West Bengal |
-
|
0.06
|
3.86
|
-
|
| Odisha |
0.32
|
0.07
|
4.15
|
0.52
|
Price Increase :
| State |
HSD
|
SKO(PDS)
|
LPG (Dom)
|
MS
|
Rs./litre
|
Rs./litre
|
Rs./Cyl
|
Rs/ litre
| |
| Assam |
1.95
|
0.80
|
19.43
|
2.13
|
| Bihar |
1.45
|
0.75
|
9.16
|
0.80
|
| West Bengal |
0.78
|
-
|
-
|
2.02
|
| Maharashtra |
0.72
|
0.32
|
8.72
|
0.72
|
The said scheme shall be reviewed on quarterly basis by the industry and required changes will be made in the State Specific Cost.
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