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LATEST NEWS UPDATES | States vs Centre: Which govt. increased the fuel tax rate? -Vignesh Radhakrishnan

States vs Centre: Which govt. increased the fuel tax rate? -Vignesh Radhakrishnan

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published Published on May 1, 2022   modified Modified on May 2, 2022

-The Hindu

What is the Opposition-ruled States’ stand on reduction of value added tax to bring down petrol prices? 

The story so far: Petrol is retailing at more than 100 per litre across India. While rising crude oil prices have added to the burden, the primary reason behind the steep increase in pump fuel prices over the last few years is the gradually rising Central Government's excise duty component. Currently, for every litre of petrol, the Centre collects 27.9 as tax, whereas in 2014, that component was about 10.4. Such is the differential after the duty was cut by 5 per litre last November. While some States followed in the Centre’s footsteps with a cut in value added tax (VAT), many others did not. On Wednesday, Prime Minister Narendra Modi said fuel prices were too high in some non-BJP-ruled States as they did not ‘pass the benefits of the Centre’s excise duty cut’ to the public. He said States such as Maharashtra, West Bengal, Telangana, Andhra Pradesh, Tamil Nadu, Kerala and Jharkhand did not reduce VAT last November while Karnataka and Gujarat did so. 

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The Hindu, 1 May, 2022, https://www.thehindu.com/business/Economy/explained-states-vs-centre-which-govt-increased-the-fuel-tax-rate/article65370084.ece?homepage=true


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