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Hike in petrol prices
in Current Affairs & Latest News
Indian Oil Corporation has viewed that petrol prices need be hiked. In this connection, it may be considered that such hike will further boost inflation. The only sensible course will be to avoid more tax on petrol whenever international price increases. The current ad valorum duty should be changed to specific duty to ensure that the import duty does not increase with rise in crude prices.

http://in.specials.yahoo.com/budget2011/news-detail/post/news/285/ioc-says-petrol-prices-should-be-hiked.html

G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

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    The prices of international crude are rising. The petrol, diesel and LPG gas also likely to rise. With a view to provide some relief to people, it is necessary to change the taxation policy. Import duty should be specific and not ad valorum.

    The ultimate sensible solution is to curtail consumption of fuel by economic use of fuel. Private vehicles should be discouraged and even manufacture stopped. Public transport should be improved. More use of bicycles and battery operated vehicles are other solutions.



    http://online.wsj.com/article/SB10001424052748704507404576179434291693052.html

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    AS petrol prices will never go down, i am planning to purchase a bicycle for my office. :P :P
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    Friends, Is there any other place in the world where petrol price is very much high than in India?. If so, please do share.
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    AS petrol prices will never go down, i am planning to purchase a bicycle for my office. :P :P


    This is good gesture. Personally, I go on foot for very near place and on scooter for going to friends and cyber cafe on Sunday. I go by city bus or auto regularly to commute to my office.

    But this is personal. At national level, it is necessary to discourage private vehicles and encourage all or most to use public transport system.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    The situation looks pretty sticky at the moment with Middle East in turbulence.We have to do some innovative thinking to deal with the situation particularly in the area of rationalization of uses of petroleum products!
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    Nearly one week after the petrol price hike of VND2,000 per litre, some taxi firms like Mai Linh, Vinasun and Taxi Group have already announced they will
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