Reduce Value Added Tax (VAT) on Petrol and Diesel to 15% in Telangana state
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My dear hard working citizens of Telangana
Present price of Petrol is Rs. 78, Diesel is Rs. 69. These prices are one of the highest in the country.
Because TRS Government increased VAT on all petroleum products in December 2015 (G.O. MS 237) from 31% to 37% for Petrol and from 22% to 27% for Diesel.
For Petrol - 5th Highest VAT in India
For Diesel - 2nd Highest VAT in India
Effect of entry tax on petrol and diesel:
With GST implementation, all taxes including entry tax will be abolished. Because petrol is not covered under GST, the government is charging entry tax on petrol (which is almost 8% in case of petrol, which is part of VAT. After GST implemented, most of the states in the country have abolished entry tax
Recently TRS government slashed VAT on aircraft fuel from 16% to 1%, this announcement of reduction in VAT is likely to cost the exchequer to the tune of Rs 300 crore annually. Who will get benefited with this move – GMR (a private limited company). With the reduced VAT on ATF, more aircraft will refil the fuel in Hyderabad airport, more aircraft will halt at this airport. Thus more income to GMR.
Is there any benefit to poor and middleclass citizens?
NO, This reduction won’t translate into any reduction in airfares because airline service providers are refill fuel wherever it is cheaper.
Lets all request our beloved CM KCR to reduce VAT on petrol and diesel. This reduction will reduce the prices of petrol and diesel by almost 10 to 15 Rs.
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