Need to think about reducing taxes on petrol, diesel: Govt in Lok Sabha

Gallery

MORE...

Sports

India Open Competition in Shotgun begins in Jaipur, paving way for Nationals' qualification

India Open Competition in Shotgun, organised by the National Rifle Association of India (N

Hockey India names Amir Ali-led 20-man team for Junior Asia Cup

Harmanpreet Singh named FIH Player of the Year, PR Sreejesh gets best goalkeeper award

World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17

U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals

FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup

MORE...

Need to think about reducing taxes on petrol, diesel: Govt in Lok Sabha

Last Updated : 15 Mar 2021 05:02:37 PM IST

Anurag Thakur

Considering the sharp hike in prices of petrol and diesel, Union Minister of State for Finance, Anurag Thakur, on Monday suggested the states to think about reducing taxes on petroleum products.

In reply to a question in the Lok Sabha, Anurag Thakur said the Central government is ready to consider the idea of reducing tax on petrol and diesel, but all the states should also consider the matter.

"The state governments should reduce taxes on petrol. We (the Centre) will also try to reduce tax on petrol. Both the Centre and the states need to think about it (reducing taxes on petrol)," the minister said.

Thakur said the government is ready to discuss the issue to bring petroleum products under the ambit of Goods and Services Tax (GST). He said the Centre levies excise duty on petrol and diesel, while the states levy VAT.

The minister said the price of crude oil was around $19 per barrel in March last year, and currently it is around $65 per barrel.

Asked why the government is not bringing petroleum products under GST as promised by the then Finance Minister late Arun Jaitley, Thakur said no state has so far given a proposal for the same.

"If any state feels that petroleum products should be brought under GST, the Centre has no objection in discussing the matter," the minister said.

IANS

New Delhi