Petrol Diesel Price Today 25 March 2021: Petrol diesel price will be cheaper

 

Petrol-Diesel can be a big decision on the rate, know what Nirmala Sitharaman said

Petrol Diesel rate may fall significantly. Because Finance Minister Nirmala Sitharaman is ready to discuss this issue in the GST Council meeting. In the Lok Sabha, amid concerns by members over high tax rates on petrol and diesel, the Finance Minister has said that he will be happy to discuss the suggestion of bringing petrol and diesel under the purview of GST in the next meeting of the GST Council.

 If Petrol is brought under the GST, then its retail price can come down to Rs 75 per liter. (SBI Economic Research) has claimed this in a report. Due to central and state level taxes and tax on taxes, the prices of petroleum products remain high in the world. On bringing in GST, the

 price of diesel (GST on diesel) can also come down to 68 rupees a liter.

Also Read..Governments Big Announcement About Petrol Diesel

How Much Did Petrol Diesel Boil Today

 Excise duty is levied on the petrol, diesel by the Center and VAT in the states. These two contribute more than half of their price. For example, in Delhi, the share of taxes in the price of Rs 91.17 per liter of petrol is up to 60 percent. The contribution of excise duty in this is up to 36 percent. On the other hand, taxes in Delhi account for 53 per cent of the price of Rs 81.47 per liter of diesel. Up to 39 percent of the retail price of diesel is of excise duty.

 Finance Minister Nirmala Sitharaman while replying to the discussion on Finance Bill 2021 in the Lok Sabha said that petrol and diesel are taxed at the Center as well as in the states. At the same time, the central government also gives their share to the states from their tax collection.

The finance minister said, 

Based on today's discussion, I sincerely believe that many states will be watching this. If it is discussed in the next meeting of the GST Council, I will be happy to include it in the agenda and discuss it. I have no issue with this. Let the states come forward and discuss it. This (GST Council) is the only thing to be talked about. 

 The GST Council is the apex body in the matter of GST.

The Finance Minister leads the GST Council while the Finance Ministers of the states are its members. Earlier, members of opposition parties in the Lok Sabha said that the high prices of diesel, petrol and LPG are troubling the common man. He asked the government to reduce the tax rates on these petroleum products. These days the prices of petrol and diesel are at the highest level so far.

 Supriya Sule of NCP said that Rs 38 per liter is levied on petrol as excise duty while VAT in the state is only around Rs 19. The government should reduce excise duty. Ritesh Pandey of BSP and Naama Nageswara Rao of TRS also raised the issue of high prices of petrol and diesel.