Fuel price hike: Bring petrol under GST to arrest surge, say experts

Increasing Continuously Fuel prices reach new high

Petrol prices on Tuesday breached the psychological barrier of Rs 90 and touched a scorching Rs 90.11 in Maharashtra's Parbhani - a new record in India, an official said. "Bringing oil in GST is not a solution".

Mumbai has the highest Value-Added Tax of 39.12 per cent on petrol, while Telangana levies the highest Value-Added Tax of 26 per cent on diesel.

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment. The VAT rates are also ad valorem which means every time the product price goes up the taxes also go up. The government would have to forego a tax revenue of Rs. 820 crore towards diesel, and Rs. 300 crore on petrol. The case of over 400 petrol pumps on the Gurgaon side of Gurgaon - Rajasthan border, and truckers carrying additional tank load of diesel from Haryana which could be at the cost of additional cargo load which they can otherwise carry. Of this, 50 per cent is non-oil and 50 per cent is oil. "We have to depend on imports for oil".

There was a complete shutdown in Kasargode, the town that shares a border with Karnataka, as interstate buses kept off the roads. The extra benefit accrued to states is Rs 3-4 per litre, he said.




The Narendra Modi government has taken a lot of steps not in the interest of the country and has now "crossed the limit", Singh said at a protest during a nationwide protest against rising fuel prices organised by the Congress and joined by various opposition parties.

The official said the four states, which have supported Bharat Bandh, collect high taxes themselves.

Finance Minister Arun Jaitley remained evasive on the issue of cutting down excise duty to cushion the spiralling petrol and diesel prices, adding that worldwide oil prices are volatile and have not shown any linear movement. Diesel prices also increased from Rs 77.92 to Rs 78.06.

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