Tuesday, 2 July 2019

Relief to households - LPG Gas cylinders to cost Rs 100 less

In its monthly revision, prices of non-subsidized LPG (liquid petroleum gas) cylinders were lowered by Rs 100.5 by the state-owned Indian Oil Corporation Limited (IOC). Prices of 14.2 kg subsidized LPG cylinders were lowered
by around Rs 3 as against an increase of Rs 1.23 in June, across major Indian cities.

Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. However, cylinders have to be bought at full price at the time of purchase, and the subsidy is then credited to the customer's bank account by the government. Subsidy paid varies every month based on the changes in the pricing and tax rates. 

GST on these cylinders are calculated on the market rates. Residents also have the choice of voluntarily opt out of subsidy. Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. However, cylinders have to be bought at full price at the time of purchase, and the subsidy is then credited to the customer's bank account by the government. 

Subsidy paid varies every month based on the changes in the pricing and tax rates. GST on these cylinders are calculated on the market rates. Residents also have the choice of voluntarily opt out of subsidy.

Non-subsidized LPG cylinder prices Prices of non-subsidized 14.2 kg cylinders were reduced by around Rs 100 in July as against an increase of Rs 25 in the previous month.

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