Only solution for Fuel price hike is to bring it under GST says Dharmendra Pradhan
Amritsar,Punjab,India,September 18: The only answer to the growing fuel price that lie in the bringing petroleum product under the Goods and Services Tax (GST) regime said Oil Minister Dharmendra Pradhan on monday
According to reports Dharmendra Pradhan stated that the only solution to it is GST, which should cover all petroleum product. we are sincerely appealing tot he state governmentand GST council to look into this issue.
Petrol and diesel should come under GST in that way the infirmity of tax should be equally shared.Also this will help with tax predictability”
This statement came a day after Finance Minister Arun Jaitley pointed out saying, “In Delhi, the petrol price is Rs. 70 a litre whereas in Mumbai it is Rs. 80. It could be as low as Rs. 38.10 in both the cities if it were under the GST regime attracting a 12 percent tax”.
Union Minister also asserted that the rise in prices of petrol was due to several factors.
As of now, petrol prices contain other elements like Centre-imposed excise duty, state-imposed VAT and dealer’s commission. So if fuel is brought under GST, petrol price can come down to Rs. 38 per litre from Rs. 70 at 12 percent GST.