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Bring petrol, diesel under GST to reduce rates, Chamber of Trade and Industry urges Delhi govt

Chamber of Trade and Industry also urged the central government to withdraw the increased excise duty that was introduced last year due to the Covid-19 pandemic.

Published: 09th July 2021 07:12 AM  |   Last Updated: 09th July 2021 07:12 AM   |  A+A-

India’s fuel marketing sector is largely dominated by three state-run oil marketing firms: IndianOil, Bharat Petroleum and Hindustan Petroleum.

The dealer price of petrol in Delhi is Rs 40.62 per litre. (Representational Photo)

By Express News Service

NEW DELHI: The Chamber of Trade and Industry (CTI) on Thursday asked the government to bring petrol and diesel under the ambit of GST to bring down the fuel rates, a day after prices of petrol in Delhi crossed the Rs 100 a litremark. It also urged the central government to withdraw the increased excise duty that was introduced last year due to the Covid-19 pandemic.

“Crude oil was the cheapest in the last 16 years in 2020-21. During corona, between March and May 2020, when crude oil became cheaper, the central government increased the excise duty on petrol by Rs 13 and diesel by Rs 16,” a statement from CTI said.

The dealer price of petrol in Delhi is Rs 40.62 per litre, central excise duty is Rs 32.90/ litre, VAT is Rs 23.13 per litre, while dealer commission is Rs 3.60 per litre, that is, the tax being levied on per litre of petrol is Rs 56.03. Similarly, the dealer price of diesel is Rs 42.39 per litre, excise duty is Rs 31.80 per litre, VAT is Rs 12.85 while dealer commission is Rs 2.53.

CTI chairman Brijesh Goyal said the traders body had recommended bringing petrol and diesel in “maximum luxury slab of GST” and levying Rs 18 per litre CGST and SGST each on petrol. “The price of petrol including dealer commission will be Rs 80.22 per litre after this. Similarly, if Rs 15 worth of CGST and SGST each is levied on diesel, the price will be Rs 74.92 per litre,” Goyal said. 



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