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Petrol-diesel to become cheaper

 Petrol-diesel to become cheaper: Finance Ministry to reduce taxes, talks with Union states; The price may fall until March 15

In some cities, the price of petrol has crossed Rs 100 at present

Between April and December 2020, the government received revenue of Rs 4.21 lakh crore

Petrol and diesel will soon become cheaper. The finance ministry is planning to reduce excise duty on both. However, there has been no increase in petrol and diesel prices for the last three days.

ગુજરાતી માં ન્યૂઝ વાંચો 

વિડીયો જોવો ન્યૂઝ નો 

The price may fall until March 15

The news is that a decision on tax cuts is likely to be taken by March 15. According to government sources, the matter will be decided soon. The price of crude has doubled in the last 10 months. Thus, the price of petrol and diesel in the country has now crossed the average of Rs 92 and Rs 86 respectively. In some cities, petrol has crossed Rs 100. The government may reduce excise duty due to increasing pressure from all quarters.

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The center can levy excise duty and state VAT

The central government imposes excise duty on petrol and diesel, while the state government imposes VAT. In the last three days government rights and corporates have demanded tax cuts. Just a few days back, MP Subramaniam Swamy condemned Ram's petrol in India at Rs 93, while Ravana's at Rs 51 in Lanka and Sita's at Rs 53 in Nepal.

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Petroleum should be brought under GST

On Monday, KV Subramaniam, the government's chief economic adviser, said petroleum products should be brought under GST. Petrol and diesel prices in India are doubly taxed. The central government has twice increased excise duty in the last 12 months. The government is focusing on raising revenue itself instead of giving people the benefit of falling crude prices.

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Discussions are taking place with the states

The finance ministry is also in talks with some states to reduce taxes. However, many states, including Punjab, Bengal and Assam, have reduced taxes on petroleum products. Assembly elections are coming up in these states. The central government feels that the price of petroleum products could work against them in the elections. Finance Minister Nirmala Sitharaman recently said that we cannot say when the tax will be reduced. However we are talking to the states about this.

Also read 🌊 ગુજરાત ગૌણ સેવા પસંદગી મંડળ (GSSSB) દ્વારા ભરતી. 

Revenue of Rs 5.65 lakh crore was received

In the financial year ended March 31, 2020, the Central and State Governments collected revenue of Rs 5.56 lakh crore from the petroleum sector. Between April and December 2020, revenue of Rs 4.21 lakh crore was collected. This happened when the demand for petroleum was low.

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