A STUDY ON REPLACEMENT OF EXCISE DUTY
BY GST ON PETROL PRICES
RAKSHITH.A, KIRAN CHOWRAPPA.A, NAVEENa.N
Ii m.com
Under the guidance of :
Supervisior: dr.s.Rosaline jayanthi
Date of submission: 10.12.2021
(Students, Department of Master of Commerce, St. Francis De Sales
College, Bangalore University, Bangalore, Karnataka)
OBJECTIVES OF THE STUDY
 To Analyze the factors influencing the petrol price.
 To find the petrol price under GST.
 To Know why state Govt. opposing.
 To Know current tax rate on petrol.
Abstract
Goods and Services Tax is a single indirect tax
levied on both goods and servies at national level.
GST is formed in India from 1st July 2017,there are
some products which are not included in GST such
as petrol ,diesel, alcohol.
The aim of study is how the pricing of petrol
efforts under the GST
INTRODUCTION:
Under the existing tax system for indirect taxes
number of indirect taxes are levied and collected
by both central and state governments.
The introductions of the Goods and Services tax
would be a very significant steps in the field of
indirect tax reforms in India
GST is a larger concept that has huge tax structure
to boost the economic growth
OBJECTIVES OF THE STUDY
 To Analyze the factors influencing the petrol price.
 To find the petrol price under GST.
 To Know why state Govt. opposing.
 To Know current tax rate on petrol.
There are factors influencing the petrol price.
COST OF CRUDE OIL
DEALER COMMISION
CENTRAL EXISE DUTY
VALUE ADDED TAX
TAX IMPOSED BY STATE GOVERNMENT
DEMAND OF FULE
CALCULATION OF PETROL PRICE UNDER GST
CRUDE OIL TO FINAL FULE PRICE
JANUARY 2022
International Price Of Crude Oil
80 £ per Barrel
Currency Exchange Rate
RS.74.57/USD
Crude Oil in Indian Currency
RS.5965
1 Barrel of Crude Oil
159
Crude Oil-Cost Per Liter
RS.37.51
Petrol price as per January
95.41 PER LITER
Petrol Price Under GST
Price brake up per liter
Amount
Oil prices for companies
42.93
Add: Marketing cost
2
Cost price for bunk dealer
44.93
Add: 28% of GST
12.58
Price after GST
57.51
Add: compensation tax on suvs
12.65
Add: Dealers commission
3.62
Retail selling price after GST
73.78