| Bring petrol, diesel under GST: UDA | | | Early Times Report
JAMMU, Feb 21: United Democratic Alliance (UDA) on Sunday demanded to bring petrol and diesel under the Goods and Services Tax (GST) to ensure uniformity in automobile fuel in the country.
The statement comes on a day when petrol price in Jammu was more than Rs 90 a litre and diesel by a steep Rs 81 per litre.
Sooner petrol and diesel are brought under the GST, better it would be for the Indian economy because changes in the GST are brought only after wider deliberations by the GST Council, said United Democratic Alliance (UDA) Convenor, Rajiv Mahajan.
When the GST was introduced on July 1, 2017, petrol and diesel were kept out of its purview given the revenue dependence of state governments on this sector.
One of the main reasons for the stimulus is to revive the demand by way of tax reductions.
"But, on the contrary, if taxes are raised, demand would be further depressed, giving a jolt to the economy," he said.
The increase in fuel prices will have a trickle-down effect resulting in rising costs of transportation, building up inflationary pressures amid an environment where income generation is already impacted due to pandemic COVID-19, said Mahajan, urging the government to roll back the hike. |
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