Do you know that Indian consumers are one of the highest tax payers in the world! I’m not talking just about the taxes that you pay from your income, but taxes that we have to endure in every day lives. Take for example, the Times of India report on today’s edition states that the actual price of petrol is just Rs 29.54 per litre inclusive of all taxes. But if you are in Mumbai, you have to pay Rs 77.50 and if you are in Bengaluru it is even higher at Rs 82.30!
(See below graphic for details)
If you are wondering why you have to pay such exorbitant price, here’s why: You are required to pay additional taxes and duties over and above the market price of petrol price. These include central excise duty, state VAT, cess, octroi and commission for petrol pump owners! That’s why you end u paying 153 % in taxes above the real price of petrol.