Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday demanded that petrol and diesel be brought under the Goods and Services Tax (GST)
'There is lack of political will to bring crude under the ambit of GST,' say economists at SBI
Sharanjit Singh Dhillon, SAD MLA from the Sahnewal constituency, told ANI that taxes on petrol and diesel are so high that people are unable to afford these items
Finance Ministry may take a final call on fuel tax cut following Opec's meeting this month, say sources
The rise in the petrol and diesel price has paused for the last couple of days as oil marketing companies have decided to wait and watch the developments on the global oil market
While consumers feel the petrol pinch directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use
Similarly, in Mumbai, Chennai and Kolkata, the fuel was sold for Rs 97.57, Rs 93.11 and Rs 91.35 a litre respectively
Morgan Stanley expects Brent crude prices to climb to $70 per barrel in the third quarter
Most want centre to reverse Covid excise duty, states to prune VAT rate or replace ad valorem rate with flat tax structure
This comes as the prices of petrol and diesel are increasing continuously for several days and in some states, the price of petrol has even crossed Rs 100 mark
State finance minister says decision taken despite Amphan, Covid stress and dues from Centre running into Rs 77,000 cr, will bring marginal relief especially to farmers who use diesel
The West Bengal government on Sunday announced a reduction of tax by Re 1 per litre on petrol and diesel effective from midnight. State Finance Minister Amit Mitra said the move will provide some respite to people stung by burgeoning prices of fuel. "The Centre earns Rs 32.90 per litre in taxes from petrol, while the state gets Rs 18.46 only. In case of diesel, the central government's earning is Rs 31.80 per litre as against Rs 12.77 for the state," Mitra said. He also alleged that the Centre had imposed cess to avoid devolution with states, which is "against the characteristics of federalism". To a question, Mitra said the Union government should reintroduce the planning commission.
On Sunday, price of the fuel in Delhi, Mumbai, Chennai and Kolkata was at Rs 90.58, Rs 97.00, Rs 92.59, Rs 91.7 per litre, respectively, unchanged from the previous levels
The Congress in Madhya Pradesh is observing a half-day statewide 'bandh' on Saturday to protest against the rising petrol and diesel prices.
The government will reduce the VAT for petrol from 31.62 per cent or Rs 17.60 per litre to 20 per cent or Rs 15 per litre
Premium petrol touches Rs 100 in three states; LPG prices hit Rs 769 a cylinder
Petrol price crossed the Rs 99 a litre mark in Rajasthan on Sunday while diesel topped Rs 91 after rates were increased for the sixth day in a row. Petrol price was increased by 29 paise per litre and diesel by 32 paise, according to a price notification of state-owned fuel retailers. This pushed retail rates, which differ from state to state depending on incidence of local sales tax or VAT and freight charges, to their highest level. In the national capital, petrol climbed to Rs 88.73 a litre and diesel soared to Rs 79.06, the notification showed. Rajasthan, which levies the highest VAT on fuel in the country, had the highest petrol and diesel prices. In Sriganganagar town of the state, petrol soared to Rs 99.29 and diesel jumped to Rs 91.17 per litre. The Rajasthan government had late last month cut VAT on petrol and diesel by 2 per cent. Despite this, the state has the highest VAT at 36 per cent plus Rs 1,500 per kilolitre road cess on petrol. On diesel, the state levies 26 pe
The rate of petrol with additives has crossed the Rs 100 mark for a litre in Maharashtra's Parbhani district on Sunday morning, an office bearer of a petrol dealers' association said.
Petrol and diesel prices are revised on a daily basis in line with the change in international crude oil prices
"The Congress is planning an all India protest, if the prices of fuel continue to soar on an uncontrolled level," Chennithala told reporters here as he commenced today''s yatra in Ernakulam district