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The central government has reduced <keyword id="20442280" type="General" weightage="20" keywordseo="windfall-tax" source="keywords">windfall tax</keyword> on crude petroleum, according to a government notification. The special additional <keyword id="20253895" type="General" weightage="20" keywordseo="excise-duty" source="keywords">excise duty</keyword> (<keyword id="20211971" type="General" weightage="20" keywordseo="saed" source="keywords">SAED</keyword>) on crude petroleum has been slashed from Rs 9,600 per tonne to Rs 8,400 per tonne. The new <keyword id="20452955" type="General" weightage="20" keywordseo="tax-rates" source="keywords">tax rates</keyword> will come into immediate effect. The taxes on <keyword id="6356109" type="General" weightage="20" keywordseo="diesel" source="Orion">diesel</keyword>, petrol and aviation turbine fuel will continue to remain nil. The government had on April 16 raised the windfall tax on <keyword id="20201860" type="General" weightage="100" keywordseo="petroleum-crude" source="keywords">petroleum crude</keyword> to Rs 9,600 per cent tonne from Rs 6,800. A tax levied on an unforeseen or unexpectedly large profit is called a windfall tax. Meanwhile, bringing a measure of respite to the people, <keyword id="19979741" type="General" weightage="20" keywordseo="oil-marketing-companies" source="keywords">oil marketing companies</keyword> have slashed the prices of <keyword id="21488887" type="General" weightage="20" keywordseo="commercial-LPG-gas-cylinders" source="keywords">commercial LPG gas cylinders</keyword> by Rs 19 per unit with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder would be now Rs 1745.50 in Delhi, sources said. Last month, the price was cut by Rs 30.50 for a 19-kg commercial cylinder at Rs 1764.50. While the precise reasons behind the <keyword id="21488889" type="General" weightage="20" keywordseo="price-decrease" source="keywords">price decrease</keyword> remain undisclosed, various factors, such as changes in <keyword id="21488888" type="General" weightage="20" keywordseo="international-oil-prices" source="keywords">international oil prices</keyword>, shifts in taxation policies, and supply-demand dynamics, likely contribute to such adjustments. Revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders typically occur on the first day of each month. (ANI)

India slashes windfall tax on crude petroleum

New Delhi [India], March 1 (ANI): Oil marketing companies have announced a significant increase in the prices of commercial Liquified Petroleum Gas (LPG) gas cylinders, effective from March 1. Sources reveal that the rate of 19 kg commercial LPG gas cylinders has been raised by Rs 25.50, impacting consumers across various metro cities. The revision in prices comes amid ongoing fluctuations in fuel costs and market dynamics. According to the latest updates, the retail sales price of a 19 kg commercial LPG cylinder in Delhi will stand at Rs 1795 from March 1 onwards. This adjustment reflects the evolving landscape of fuel pricing and its implications for consumers. Comparing the revised prices with previous rates offers insights into the extent of the increase. In metro cities like <keyword id="19896626" type="General" weightage="20" keywordseo="kolkata" source="keywords">Kolkata</keyword>, <keyword id="19895282" type="General" weightage="20" keywordseo="mumbai" source="keywords">Mumbai</keyword>, and <keyword id="19895758" type="General" weightage="20" keywordseo="chennai" source="keywords">Chennai</keyword>, the prices of 19 kg <keyword id="20787104" type="General" weightage="20" keywordseo="indane" source="keywords">Indane</keyword> gas cylinders have also been revised upwards. Kolkata will witness a price hike to Rs 1911, while Mumbai and Chennai will see prices rise to Rs 1749 and Rs 1960.50, respectively. The escalation in prices follows a series of consecutive revisions in recent months. Previous prices of 19 kg Indane gas cylinders on January 1 and February 1, highlight the upward trajectory of fuel costs. On February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates. In Delhi, the price stood at Rs 1769.50, while Kolkata recorded Rs 1887, <keyword id="20787105" type="General" weightage="20" keywordseo="mumbai-rs" source="keywords">Mumbai Rs</keyword> 1723.50, and Chennai Rs 1937. These prices served as the baseline for consumers at the beginning of the month. However, with the advent of March 1, consumers witnessed a notable increase in the prices of Indane LPG gas cylinders across all metro cities. In Delhi, the price surged by 1.44 per cent (Rs 25.5), reaching a new rate of Rs 1795. Similarly, Kolkata experienced an increase of 1.27 per cent (Rs 24), resulting in a revised price of Rs 1911. Mumbai saw a rise of 1.48 per cent (Rs 25.5), bringing the price up to Rs 1749, while Chennai witnessed an increase of 1.21 per cent (Rs 23.5), setting the new rate at Rs 1960.50. The impact of these price hikes is felt across various segments of society, highlighting the broader economic ramifications of fluctuations in fuel prices. The increases underscore the challenges faced by consumers amidst fluctuating fuel prices and economic uncertainties. While the precise reasons behind the price hike remain undisclosed, various factors such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics likely contribute to such adjustments. The consecutive revisions emphasize the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders. (ANI)

Fuel price surge: Oil companies spike commercial LPG rates, impacting metro consumers

<ul><li>The Delhi government has provided 50% subsidy for the consumer using 201-400 units of electricity. </li><li>The consumers will not have to pay any <keyword id="100242" type="PERSON" weightage="20" keywordseo="Electricity-bill">electricity bill</keyword> for using up to 200 units. </li><li>The price of non-subsidised LPG cooking gas will be reduced by Rs 62.50 per 14.2 kg cylinder in New Delhi. </li></ul>The residents of Delhi can breathe a sigh of relief. Chief Minister <keyword id="260213" type="PERSON" weightage="20" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> government <a href="https://www.ndtv.com/india-news/arvind-kejriwal-says-no-bill-for-electricity-usage-upto-200-units-in-delhi-2078622">announced </a>that its low-end consumers need not pay electricity bills. As per the new tariff policy, <a href="https://www.ndtv.com/delhi-news/no-electricity-tariff-hike-in-delhi-for-5-years-tweets-arvind-kejriwal-2078381">the government won't impose any electricity</a> charges for those consuming 200 units of electricity or less. <div type="twitter" handle="ArvindKejriwal" handlename="Arvind Kejriwal" image="http://pbs.twimg.com/profile_images/945853608389574656/REH_LpUJ_normal.jpg" favoritecount="17150" retweetcount="3019" status="Congratulations Delhi For fifth consecutive year NO electricity tariff hike. On the contrary, for fifth consecutiv… https://t.co/b6jt4jqTij" createdat="1564568739000" id="1156511234881011712"></div>

 New electricity tariffs They have much more subsidies up their sleeve. The Delh<a href="https://twitter.com/ANI/status/1156823259159154688">i government provided 50% subsidy</a> for those consuming between 201-400 units of electricity. Starting August, The consumers will have to pay ₹252 instead of ₹800 for using 250 unit a month. Further, for 300 units, the government will charge ₹526 monthly. <keyword id="75088" type="ORGANIZATION" weightage="20" keywordseo="LPG-cylinders">LPG cylinders</keyword> to cost less This is not the only good news that the national residents received today. The price of non-subsidised LPG cooking <a href="https://www.businessinsider.in/news/lpg-cylinder-prices-cut-by-62-5-in-delhi-rates-effective-from-aug-1/articleshow/70475003.cms">gas will be reduced </a>by ₹62.50 per 14.2 kg cylinder. This is effective August 1, the company said. According to the Indian Oil Corporation, the price reduction comes on the back of prices in the international market and the Dollar-Rupee exchange rate. "Accordingly, the upfront cash payment by the consumers of domestic LPG will also reduce per cylinder. Domestic LPG consumers will now be required to make an upfront cash payment of Rs 574.50 only per 14.2 Kg cylinder in August 2019 in place of Rs 637," IOC said in a statement. (With IANS) See also: <a href="https://www.businessinsider.in/news/lpg-cylinder-prices-cut-by-62-5-in-delhi-rates-effective-from-aug-1/articleshow/70475003.cms">Cooking gas will get cheaper from today in India's national capital</a>.

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India slashes windfall tax on crude petroleum

ANI

Fuel price surge: Oil companies spike commercial LPG rates, impacting metro consumers

ANI

Double bonanza for Delhi-ites — free power and cheaper gas

Preeti Soni

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