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No Proposal To Reduce Taxes On Petrol, Diesel: Sitharaman

By Staff

On Monday, Finance Minister Nirmala Sitharaman informed the Lok Sabha that there is no proposal to reduce taxes on petrol and diesel. She added that nowhere in the world do the prices of petrol and diesel remain steady for a particular period of time.

"At present, there is no proposal to reduce taxes on petrol and diesel," Sitharaman said in response to a question on whether the government proposes to reduce taxes so that prices of petrol and diesel would come down.

No Proposal To Reduce Taxes On Petrol, Diesel: Sitharaman

Further, on the query of whether or not petrol as well as diesel would be brought under the GST (Goods and Service Tax) regime, Sitharaman said that in a way, they are already under the zero rate category of the GST. The rates have to be decided by the GST Council, she noted.

The GST Council is chaired by the union finance minister and has ministers in-charge of finance and taxation from all states as its members.

It was also informed to the Lok Sabha that no new tax on petrol or diesel is being considered.

The central government imposes central excise and customs duties on fuel sold in India. In addition, state government taxes are also imposed.

On whether small farmers would be provided subsidy on diesel, FM Sitharaman said that the central and state governments tax at different levels.

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