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Subsidised LPG rate hiked by up to Rs 32 per cylinder post GST

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Subsidised LPG, Gas cylinder, GST, LPG, Domestic cooking gas, Business news

New Delhi: The price of subsidised LPG cylinder has been hiked by up to Rs 32 per cylinder-the steepest increase in six years-following implementation of the Goods and Services Tax (GST).

Domestic cooking gas rates have been increased to Rs 477.46 per 14.2-kg cylinder from Rs 446.65 in Delhi after GST was implemented from July 1st.

 

 

In the previous indirect tax regime where separate factory-gate duty and sales tax were levied, LPG attracted a zero or nil excise duty all over the country.

VAT or sales tax was nil in Delhi as well as Chandigarh, Haryana, Jammu and Kashmir, Rajasthan, Tamil Nadu, Uttar Pradesh, West Bengal and some north-eastern states. It ranged from 1 per cent to 5 per cent in other states.

However, under GST, which subsumed more than a dozen central and state levies, a 5 per cent tax was levied on subsidised LPG. This essentially meant that states where VAT was nil or less than 5 per cent, rates have gone up.

Besides Delhi, subsidised LPG price has been hiked by Rs 31.67 per cylinder to Rs 480.32 in Kolkata and Rs 31.41 in Chennai to Rs 465.56, according to information available from oil companies.

 

 

In Mumbai, where a VAT of 3 per cent was applicable previously, the price has gone up by Rs 14.28 to Rs 491.25 per cylinder.

This is the steepest increase in domestic subsidised LPG rate since June 25, 2011, a hike of Rs 50 per cylinder, which was necessitated due to a jump in international oil prices.

Every household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year. Any requirement beyond that has to be purchased at market price.

 

 

The rate of market-priced 14.2-kg cylinder in Delhi is Rs 564.

Sources said the 5 per cent GST resulted in a Rs 26.88 increase in rate per cylinder in Delhi and the remaining hike of about Rs 3 is because of the decision since June last year to raise prices by about Rs 2 to cut the subsidy.

The rate of non-subsidised LPG, which consumers pay after exhausting their quota of below-market priced bottles, went up by Rs 11.5 to Rs 564. Such bottles attract an 18 per cent GST.

 

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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