Sr No. Elements Unit 1-Nov-14
Transcription
Sr No. Elements Unit 1-Nov-14
Price Build-up of Domestic Subsidized LPG ( 14.2 kg Cylinder) at Delhi Sr No. 1* 2* 3 4* 5* 6* 7* 8* 9* 10* 11* 12 13* 14* 15* 16* 17* 18* 19 20 21 Elements FOB Price at Arub Gulf of LPG Add: Ocean Freight from AG to Indian Ports C&F (Cost & Freight Price) OR Import Charges (Insurance/Ocean loss/LC Charge/Port dues) Basic Customs Duty Import Parity Price (Sum of 3 to 5) Refinery Transfer Price (RTP) for Domestic LPG (Price Paid by the Oil Marketing Companies to Refineries) Add : Inland Freight, Delivery Charges etc. Add : Marketing Cost of OMCs Add : Marketing Margin of OMCs Add : Bottling Charges (Filling and Cylinder Cost) Total Desired Price (Sum of 7 to 11) -Before Excise Duty, VAT and Distributor Commission Less: Subsidy by Central Government Less: Under-recovery to Oil Marketing Companies Price charged to Distributors (bottling plant price) (12-13-14) - Excluding Excise duty and VAT Add: Excise duty (Including Education cess) Add: Distributor Commission Establishment charges - ` 26.06/cyl; and Delivery charges - ` 18.00/cyl Add: VAT (Including VAT on distributors' commission) applicable for Delhi Retail Selling Price (Sum of 15 to 18) Retail Selling Price at Delhi (Rounded off) Under Recovery due to Rounding down * The explanatory note are given in the attachment ** Monthly RTP is weighted average of all Indian pricing Ports Unit 1-Nov-14 $/MT $/MT $/MT `/cyl `/cyl `/cyl `/cyl 744.19 46.63 790.82 688.96 5.86 0.00 694.82 `/cyl `/cyl `/cyl `/cyl `/cyl 694.82 39.51 10.52 6.22 38.68 `/cyl `/cyl `/cyl 789.76 22.58 393.77 `/cyl `/cyl 373.41 0.00 `/cyl 44.06 `/cyl `/cyl `/cyl `/cyl 0.00 417.47 417.00 0.47 Element wise explanation of Price Build up of Domestic Subsidized LPG : Sr. No. 1 2 4 5 6 7 Elements * FOB Price Description FOB of LPG is weighted average of Saudi Aramco contract price (CP) for Butane (60%) & Propane (40%) for previous month and also includes daily quotes of premium / discount (published by Platts Gaswire) averaged for previous month. Ocean Freight Ocean freight from Arab Gulf to destination Indian ports based on charter hire rates obtained from Clarkson Shipping Intelligence weekly. Import Charges Import charges comprises of Insurance, Ocean Loss, LC Charges & Port dues applicable on import of LPG. Basic Customs Duty Basic Custom duty on domestic LPG is Nil. Import parity Price (IPP) IPP represents the price that importers would pay in case of actual import of product at the respective Indian ports. Import Parity Principle is as envisaged in the 'PDS Kerosene & Domestic LPG Subsidy Scheme, 2002'. Refinery Transfer Price (RTP) RTP is based on Import Parity Price. This is the price paid by the Oil Marketing Companies to domestic refineries for purchase of finished petroleum products at refinery gate. 8 Inland Freight, Delivery Charges etc. It comprises of average freight from port to inland locations and local delivery charges etc. up to distributor. 9 10 Marketing Cost Marketing Margin Marketing Cost & Margin as fixed under notified 'PDS Kerosene & Domestic LPG Subsidy Scheme, 2002'. 11 Bottling Charges (Filling & Cylinder Cost) The cost incurred towards filling LPG in 14.2 Kg. cylinders as per notified 'PDS Kerosene & Domestic LPG Subsidy Scheme, 2002' 13 14 Subsidy by Central Government Under recovery to OMCs 16 17 Excise Duty Distributor Commission 18 VAT (Sales Tax) Average Subsidy of ` 22.58/Cylinder is provided from Government Budget as per 'PDS Kerosene & Domestic LPG Subsidy Scheme, 2002'. Difference between Desired price and actual selling price (excluding Excise Duty, VAT and distributor commission), represents underrecoveries to OMCs. Excise duty on domestic LPG is Nil. LPG distributor commission ` 44.06/Cylinder (effective 23-Oct-2014) is as approved by MoP&NG. VAT at applicable rate in respective States. It varies from state to state (up to a maximum of 5% as Domestic LPG is 'Declared Goods' under CST Act). Currently VAT at Delhi is Nil.