Six non-BJP ruled States have not reduced VAT on petroleum products: Government
The Hindu
“Six States — West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand — have not reduced the VAT,” he said amidst vocal protests by the the Opposition members.
Six non-BJP ruled States — West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand— have not reduced the VAT on petroleum products, leading to higher prices of petrol and diesel there, Petroleum Minister Hardeep Singh Puri said on December 15.
Mr. Puri said in Lok Sabha that the Central government has reduced excise duty on petroleum products and some other States, following cues, and reduced their Value Added Tax (VAT).
“Six States — West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand — have not reduced the VAT,” he said amidst vocal protests by the the Opposition members. The Minister said, currently the petrol price in India is one of the lowest.
He said the oil marketing companies together suffered losses of ₹27,276 crore due to high prices of crude in international markets. “I suggest MPs from the Opposition impress upon their State governments to reduce the VAT so that they can also join the celebrations,” he said.
Mr. Puri said India imports more than 85% of its crude oil requirements. Therefore, the prices of petrol and diesel in the country are linked to their respective prices in the international market.
He said the retail prices of petrol and diesel depending on various factors such as crude oil purchase price, exchange rate, shipping charges, inland freight, refinery margin, dealer commission, Central taxes, State VAT and other cost elements.
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