New Delhi: Everyone is worried about the rising prices of petrol and diesel. In the survey of the local circle, 50 per cent of the people have said that due to expensive fuel, the expenditure will be cut. At the same time, 77% of citizens want the government to bring petrol and diesel under the purview of GST. Because it will have a positive impact on the livelihood of the citizens. Even at a 28% GST rate, the price of petrol will be around Rs 75 per litre and diesel by Rs 70 per litre.
The proposal to bring petroleum products under the ambit of GST will be considered by a committee headed by Finance Minister Nirmala Sitharaman in the 45th meeting of the GST Council in Lucknow tomorrow. When petrol and diesel come under the purview of GST, petrol will become cheaper by Rs 28 and diesel by Rs 25. Right now petrol has crossed Rs 110 and Deezer Rs 100 per liter in many places in the country.
The consumption of fuel in the country has come down to the pre-covid level. Due to this, the price of petrol has also increased. Here we are showing you the consumption of fuel, their price when GST is implemented and the tax system applicable on petrol-diesel through graphics.
Let us tell you that the meeting of the GST Council is to be held on 17th September. If the opinion of the people is approved by the council, then people can get relief from the increasing rate. The maximum slab of GST is 28 per cent and at present around 55 per cent tax is levied on the prices of fuel. On 1st July 2017, GST was included in the Central Taxes like VAT, Excise Duty and State Duty. Then five petroleum goods (petrol, diesel, ATF, natural gas and crude oil) were kept out of its purview.