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Telangana Government in no mood to cut VAT on petrol, diesel
Telangana Government in no mood to cut VAT on petrol, diesel
The Union Government’s decision to reduce excise duty on petrol and diesel has given some relief to the people of the State.
Hyderabad: The Union Government's decision to reduce excise duty on petrol and diesel has given some relief to the people of the State. While many other States followed the Centre and gave some more relief to the common man, the Telangana government does not appear to be in a mood to do so.
Officials said that the government is unlikely to reduce VAT in the wake of increased financial requirements of the government which includes payment of increased salaries to government employees as per the new PRC, disbursement of Aasra pensions to nearly 35 lakh beneficiaries, Rythu Bandhu and the recently launched Dalit Bandhu scheme.
One of the top officials said, "there is no such proposal to reduce VAT on fuels so far. The State Commercial Taxes department did not receive any proposal on VAT from the Chief Minister Office." Currently, the State is collecting 35.2 per cent VAT on petrol and 25 per cent on diesel. The sale of petrol was around 40 lakh litres and diesel was 35 lakh per day from 800 fuel outlets in the State. "The government earns nearly Rs 900 crore per month from VAT on fuel. The State has targeted to increase the revenues through VAT this financial year. VAT on fuel was increased in 2015. Since then, the tax structure remained the same," the official claimed. "In the present circumstances, reducing the VAT was ruled out," a senior official said.
The government already requested the Union Government to pay compensation for the revenue losses reported during the lockdown period in 2021 and this year to meet the growing financial needs in the third and fourth quarter of the current financial year. In the last two quarters, the requirement of funds will be more and the government would have to put extra efforts to generate more revenues.
FUEL PRICES after duty cut
After Excise Duty cut, the costliest petrol is sold in Rajasthan at Rs 111.10 per litre (Jaipur), followed by Mumbai (Rs 109.98) and Andhra Pradesh (Rs 109.05). The fuel is below Rs 100-a-litre-mark in most BJP ruled states, barring Karnataka (Rs 100.58), Bihar (Rs 105.90), Madhya Pradesh (Rs 107.23) and Ladakh (Rs 102.99). Similarly, the costliest diesel is now sold in Rajasthan at Rs 95.71 a litre (Jaipur), followed by Andhra Pradesh (Rs 95.18) and Mumbai (Rs 94.14). The cheapest diesel is in Mizoram at Rs 79.55 a litre. In Delhi, petrol costs Rs 103.97 per litre and diesel Rs 86.67 per litre
NO VAT CUT HERE
States that have so far not lowered VAT include Congress and its allies ruled Rajasthan, Punjab, Chhattisgarh, Maharashtra, Jharkhand and Tamil Nadu. AAP-ruled Delhi, TMC-governed West Bengal, Left-ruled Kerala, BJD-governed Odisha, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh
