Bring petrol, diesel under GST immediately, says P Chidambaram

By: |
New Delhi | September 3, 2018 10:18 PM

As petrol and diesel prices hit new highs on Monday, former Union Finance Minister P. Chidambaram said the Centre and states must act together to bring petrol and diesel under GST immediately.

petrol, diesel, GST, petrol diesel under gst, P Chidambaram, BJP, congress, prices of petrol“Relentless rise in prices of petrol and diesel is not inevitable. Because the price is built up by excessive taxes on petrol and diesel. If taxes are cut, prices will decline significantly,” Chidambaram said on Twitter. (PTI)

As petrol and diesel prices hit new highs on Monday, former Union Finance Minister P. Chidambaram said the Centre and states must act together to bring petrol and diesel under GST immediately. “Relentless rise in prices of petrol and diesel is not inevitable. Because the price is built up by excessive taxes on petrol and diesel. If taxes are cut, prices will decline significantly,” Chidambaram said on Twitter.

Congress demands that petrol and diesel be brought under GST immediately. “The Centre blaming the states is a spurious argument. BJP forgets its boast that BJP is ruling 19 States. Centre and states must act together and bring petrol and diesel under GST,” he added.

Prices of petrol and diesel, already at unprecedented levels in the country, rose for the ninth consecutive day on Monday, even as analysts said the dual impact of rising oil prices and the depreciating rupee increases regulatory risks for state-run oil and gas firms.

In the national capital, petrol was sold at Rs 79.15 per litre, up from Rs 78.84 on Sunday. In Kolkata, Chennai and Mumbai, the fuel was priced at Rs 82.06, Rs 82.24 and Rs 86.56 per litre, respectively, all a new record, against Rs 81.76, Rs 81.92, Rs 86.25 on Sunday.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1West Bengal Elections 2021: PM Narendra Modi to address rally at Brigade ground tomorrow; BJP’s first candidate list expected today
2Assam Election 2021: Jailed activist Akhil Gogoi to contest assembly polls from Sibsagar
3West Bengal Polls: 114 new faces in TMC candidate list; party looking to beat anti-incumbency