No proposal to reduce taxes on petrol, diesel: FM

New Delhi, Dec 2 (HS) On the issue of reducing taxes on petrol and diesel, the government made its stand clear that there was no such proposal in near future. “At present, there is no proposal to reduce taxes on petrol and diesel,” said Minister of Finance Nirmala Sitharaman while replying in response to a query made in Lok Sabha.

She said that no where in the world do the prices of petrol and diesel remain steady for a particular period of time. She further said that in a way petrol and diesel were already under the zero rate category of the GST. She was replying to a query on whether petrol and diesel would be brought under the Goods and Services Tax (GST) regime. She said that the rates have to be decided by the GST Council.

To another query, the Minister said that at present, no new tax on petrol and diesel is being considered. The central government imposes various central excise and custom duties on petrol and diesel. Besides, state governments levy taxes on them. When asked whether small farmers would be given subsidy on diesel, Sitharaman said the Centre and the state governments tax at different levels.