Kerala Finance Minister Thomas Isaac today refused to reduce Value Added Tax (VAT) by Rs 2.50 on petrol and diesel in the southern state as per the Centre’s request so as to give relief to the people.
The state will do so if the Centre bring the fuel prices down to the level when the Narendra Modi government assumed office in May 2014, Issac told the media here while reacting to Union Finance Minister Arun Jaitley’s statement in this regard.
“Ever since the Modi government assumed office, it has raised excise duty on diesel by Rs 14 and petrol by Rs 9 per litre. You should understand that the reduction effected today is on this amount.
If the Centre is serious, it should reduce the tax to what it was when it assumed office. Then we will also step in,” said Isaac, a former economist. Read More
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