…And finally

March 31 2021

Even though Union Petroleum Minister Dharmendra Pradhan is talking of bringing petrol and diesel under the purview of GST to bring down the skyrocketing prices of petrochemicals and is looking forward to sending the matter to the GST Council, but this matter is not so easy. If petrol and diesel really fall under the purview of GST, then its price maybe half. The government gets imported petrol around Rs 30 per liter, if it adds Rs 5 dealer commission and handling charge, then it will be Rs 35, if a maximum of 28 percent GST is levied on it, then it will add Rs 9.80. Even if 50 percent center CESS is imposed on it amounting to 4.90 rupees, then the cost of petrol will be less than Rs. 50. But there are other plans of the central government, the government has set a target of tax collection of Rs 3.60 lakh crore from petrol-diesel only in its latest budget, in which case the possibility of lowering the price of petrol-diesel seems false.

GossipGuru App