Appeal to GST Council to bring fuel prices under one-tax slab: Petroleum Minister

Appeal to GST Council to bring fuel prices under one-tax slab: Petroleum Minister

Mangalore Today News Network

New Delhi, May 04, 2018 : Petroleum Minister Dharmendra Pradhan on Friday said that the issue of rising fuel prices has been brought up with the GST Council  and that he has made an appeal for petrol and diesel prices to be brought under one-tax system.

 

Rising prices of fuel in recent days has put an enormous burden on the common man across the country. And while there has been no change in the daily revision of prices in the last few days, consumers continue to pay record prices. "The rise in petrol prices is not restricted to one state. The issue has been sent to GST Council which will take the decision eventually. I appeal to the council to bring this matter under it," Pradhan told members of the press at an event in Madhya Pradesh.

Pradhan had previously said that the government is well aware of the pinch being felt by consumers due to high fuel prices but added that a balance needs to be struck with fiscal needs. News agency PTI in the last week of April had quoted Pradhan as saying that protecting consumer  interest and managing fiscal balance were two main priorities.

The government has maintained that the rise in prices of petrol and diesel has been due to an increase in crude oil prices. While Pradhan has even previously said that he wants petroleum products to be brought under GST, it has not happened.

According to reports, petrol prices could come down to as low as Rs 38 per litre from the current prices in excess of Rs 73 per litre if only   it is brought under GST. States however are unlikely to agree because it would also mean a loss of revenue for them.

The Centre too has received brickbats - regardless of the state governments and their views - because the NDA government has hiked excise duty on petrol and disel several times to garner additional revenues. And critics suspect that the current state of no-change is only due to the upcoming Karnataka Assembly elections and may rise once again after May 12.



courtesy:Zeenews