(ET)
The government on Monday said there is no proposal to reduce taxes on petrol and diesel. Finance Minister Nirmala Sitharaman told the Lok Sabha that no where in the world do the prices of petrol and diesel remain steady for a particular period of time.
To a query on whether petrol and diesel would be brought under the Goods and Services Tax (GST) regime, she said that in a way, they are already under the zero rate category of the GST. The rates have to be decided by the the GST Council, she noted.
The council, chaired by the Union Finance Minister, has ministers in-charge of finance or taxation from all states as members.”At present, there is no proposal to reduce taxes on petrol and diesel,” Sitharaman said in response to a question on whether the government proposes to reduce taxes so that prices of petrol and diesel would come down.
