High petrol and diesel prices are once again in the news. And the reason for this is the high taxes on these fuels, rather than the international crude oil prices. Even as the public anger is palpable on the social media and other forums, there is no indication from the government of its willingness to reduce these taxes.
The Times of India has written a hard-hitting editorial on Friday (15 September) on why the government should lower the oil taxes. “International crude oil prices may have halved since the Narendra Modi government assumed office, but it has made practically no difference to the consumer. This anomalous situation encapsulates a misguided taxation policy that has treated the oil sector as government’s cash cow,” it has said.
Why petrol and diesel prices are not brought under GST ???
Now for petrol and diesel the central exise duty is 23% and state VAT is 34%. A total tax of 57%. If these essential products are brought under GST , the maximum tax applicable is only 28%, which means the prices of petrol and diesel can come down by almost 29%. The public at large will be benefited. In Hyderabad we can get Petrol @Rs48.26 & Diesel @ Rs41.55. We the General public should voice our opinion. Please spread this message .