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This is clearly tax terrorism. The state government has earned additional revenue by way of the frequent increases in fuel prices by the Centre, the Opposition Leader said.
The excise duty on petrol had been reduced by Rs 5 per litre. With an additional Rs 1.30 (30.08% VAT charged by the state) also being reduced, petrol has become cheaper by Rs 6.30.
While petrol has become cheaper by Rs 6.30, diesel price was reduced by Rs 12.27 in the state.
The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
Addressing the media, the minister said the state is not getting its due in the wake of the 15th Finance Commission devolution recommendations.
The Council, which is headed by the union finance minister and includes representatives from all states and UTs, decided to charge services by cloud kitchens and food delivery platforms like Zomato and Swiggy a 5 per cent GST.
The minister also announced that the GST rate on bio-diesel for blending with diesel (used by oil marketing companies) has been reduced from 12 per cent to 5 per cent.
Recently, the spike in global oil prices on demand-recovery pushed petrol and diesel prices to an all-time high, leading to demand for bringing it under the GST.
GST is being thought to be a solution for the problem of near-record high petrol and diesel rates in the country, as it would end the cascading effect of tax on tax.
For eight months in a row, Goods and Services Tax (GST) revenues have crossed Rs 1 lakh crore mark and touched a record Rs 1.41 lakh crore in April 2021.