CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 01 June 2012
dear ankit,
in my view government is partially right in de-regulating the oil prices as otherwise it would have become a big demon of subsidy to kill in coming years. further if gouvt has de-regulated the oil prices then it should also sustantially reduce its tax collection on the commodity.
cheers
ganesh agarwala
Ankit
(Articles)
(390 Points)
Replied 01 June 2012
Dear ganesh
the same i was expecting but i don't think that the tax collection will be reduce by the govt.
as they are thinking to adopt privatisation of oil companies will surely make rise in the prices of other commodities also.
Regards,
Ankit.
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 01 June 2012
dear ankit,
our country produces only 11% of the total domestic requirement of oil. so to some extent we have to bear it and reduce our consumption or move to some other sources of energy. our hands are tied at back.
cheers
ganesh agarwala
Ankit
(Articles)
(390 Points)
Replied 01 June 2012
Dear ganesh ,
as u r right on the point, the consumption matters, we have to bear the same to the some extent but the problem is that it is continuosly on rise.
as u look in the oil sector there are always profit for government then it is behind surface that the profit is moved in which secotr ??? it is always commented that oil companies are in loss ?? why so ?? as they getting subsidies ??
Regards,
Ankit
biren
(Chartered Accountant)
(48 Points)
Replied 01 June 2012
this UPA Government is utilising tax collection in making scndles, after paying various tax what benefit we are getting?Government has made awailable somefacility for which u have to pay and use like TOLL TAX, are we not paying Road Tax while buying Vehicle? we are also paying road tax while purchasing Diesel as Rs. 1 per litre as road rax and again if you buy second hand vehicle, again you have to pay some tax as Road tax. so for levies by Government there is no limit.How much Government is collecting by way of service tax? what additional benefit we are getting for paying additional tax levy?
CAclubindia
