Fuel prices will come down once the Centre builds a consensus to bring petrol and diesel under the Goods and Services Tax (GST), Maharashtra Chief Minister Devendra Fadnavis said today.
Petrol and diesel prices are defined by international crude oil rates, Fadnavis noted.
“A task force is already working on reducing the fuel prices. If it (petrol and diesel) can be brought under GST, rates will come down. Maharashtra has already given its consent for it,” the chief minister told reporters here.
The GST Council will also have to look into aspects like revenue losses before taking a decision, he said. Talks are going on with finance ministers of all states, Fadnavis said, adding that “other states have not given their consent yet.”
“Once petrol and diesel are brought under the ambit of GST, its threshold will change, because, right now, taxes upon taxes are levied which increases rates. GST will ensure a single tax,” he said. Read More
Latest posts by ET Energy World (see all)
- Wind, hydro energy help Tamil Nadu meet high power demand - June 16, 2018
- China’s State Power to bid for Brazil hydroelectric dam -sources - June 16, 2018
- Coal, Paris deal isolates U.S. from other G20 nations at energy meeting - June 16, 2018