Minister of State for Finance Anurag Thakur has said that the Union and state leaders should discuss tax cuts in the face of rising fuel prices. “The center is ready to consider the idea of reducing the tax on petrol and diesel, the states should also consider it,” he said.
“The state governments should reduce taxes on petrol, we (the centre) will also try to reduce tax on petrol,” he said. “Both the centre and the states need to think about it (reducing taxes on petrol),” the minister added. States levy VAT on central and excise duties on petrol and diesel. In March 2020, the price of crude oil was $ 19 per barrel. But this year it’s $ 65. That is why the government does not bring petroleum products under GST. “If any state feels that petroleum products should be brought under GST then the centre has no objection in discussing about it,” he said.