Central Govt Should Cut Its Tax on Fuel, Says Tamil Nadu DyCM Panneerselvam
3 years, 9 months ago

Central Govt Should Cut Its Tax on Fuel, Says Tamil Nadu DyCM Panneerselvam

News 18  

The Centre should come forward to reduce its tax on petroleum products since the resources for state's own tax revenue is meagre, Tamil Nadu Deputy Chief Minister O Panneerselvam told the Assembly on Saturday. To protect its tax revenue from petrol and diesel notwithstanding a fall in global crude prices the Central government increased excise duty several times, he said. While the Centre's excise duty mop-up increased 48 per cent during April-November 2020, the Tamil Nadu's government's excise revenue share slid by 39.40 per cent, he said. "We are duty bound to urge the Central government to come forward to reduce its tax on petroleum products as the resources for State's own tax revenue is meagre," he said.

Tamil Nadu Tax Revenue State House Central Centre Cent Dmk Petrol Price Rise Petroleum Products Its Tax  cut  duty  petrol  state  diesel  nadu  minister  govt  tamil  fuel  central  revenue  system  tax  panneerselvam  dycm  cent

History of this topic

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform
3 weeks ago

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform

Live Mint  

On Monday, India’s finance ministry did away with windfall tax on crude-oil products, petrol and diesel, ending a distortive imposition that had been put in place around mid-2022, soon after the Russia-Ukraine war sent oil prices soaring. This will relieve oil companies whose profit margins took a hit thanks to the Centre taking away a slice of their one-off profits …

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'
6 months, 1 week ago

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'

India Today  

Karnataka Chief Minister Siddaramaiah on Sunday justified the petrol and diesel price hike in the state, highlighting the state's "reduced revenue", and said it would ensure funding for essential public services and development projects. Defending the decision, the Chief Minister said, “The Government of Karnataka has increased VAT on petrol to 29.84% and on diesel to 18.44%. We remain committed …

Karnataka: Petrol, diesel prices likely to go up as state govt revises sales tax; BJP reacts
6 months, 1 week ago

Karnataka: Petrol, diesel prices likely to go up as state govt revises sales tax; BJP reacts

India TV News  

The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. In a notification issued by the Finance Department, the government has hiked sales tax on petrol by 3.92 percentage points, from 25.92 to 29.84 per cent. BJP reacts BJP spokesperson Shehzad Poonawalla …

Lok Sabha polls | Palaniswami slams DMK, BJP on fuel prices, funds for disaster relief
8 months ago

Lok Sabha polls | Palaniswami slams DMK, BJP on fuel prices, funds for disaster relief

The Hindu  

AIADMK general secretary Edappadi K. Palaniswami on Wednesday, April 17, 2024 said the DMK’s promise of getting the prices of petrol and diesel reduced was not credible, as the ruling party, in the past three years, had not brought down Value Added Tax on diesel, contrary to its assurances during the 2021 Assembly election. In a statement issued on the …

Tamil Nadu to get higher amount as share of Central taxes
10 months, 3 weeks ago

Tamil Nadu to get higher amount as share of Central taxes

The Hindu  

February 01, 2024 07:29 pm | Updated 07:29 pm IST - CHENNAI Tamil Nadu would get ₹44,760.83 crore as its share of Central taxes as per the revised Union Budget estimates for 2023-24, presented by Finance Minister Nirmala Sitharaman on Thursday. As per the revised Union Budget estimates for 2023-24, after some adjustments made for previous years, Tamil Nadu would …

Kerala Budget will push people to further suffering: BJP
1 year, 10 months ago

Kerala Budget will push people to further suffering: BJP

The Hindu  

BJP State general secretary C. Krishnakumar said here on Friday that the State Budget would push the people into further suffering. Kerala has become the State to charge the highest price for petrol and diesel in the country,” said Mr. Krishnakumar. The government, the BJP leader said, is pushing the people to further depths of suffering by increasing taxes. Mr. …

Centre cuts windfall tax on domestic crude oil
2 years ago

Centre cuts windfall tax on domestic crude oil

Deccan Chronicle  

New Delhi: The Centre has cut the windfall profit tax on domestically produced crude oil. According to the revised prices, the windfall tax on crude oil produced by firms such as the state-owned Oil and Natural Gas Corporation has been reduced to Rs 1,700/tonne from the previous Rs 4,900/tonne. The new levy also includes Rs 1.5 per litre as road …

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%
2 years, 5 months ago

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%

Firstpost  

The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It scrapped Rs 6 a litre tax on export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4 New Delhi: Shares of firms related to oil exploration and refineries were in …

Tamil Nadu: BJP President holds rally in Chennai demanding DMK to reduce VAT on petrol, diesel
2 years, 6 months ago

Tamil Nadu: BJP President holds rally in Chennai demanding DMK to reduce VAT on petrol, diesel

India Today  

Tamil Nadu BJP president Annamalai held a rally in Chennai on Tuesday demanding the DMK government to honour its 2021 poll promise by effecting a cut in the prices of petrol by an additional Rs 5 per litre and Rs 4 per litre for diesel and Rs 200 as a subsidy of LPG immediately. Annamalai told India Today, ‘’We are …

Data Point | Explaining India’s recent fuel tax cuts
2 years, 6 months ago

Data Point | Explaining India’s recent fuel tax cuts

The Hindu  

It’s a relief that the Union government has cut the fuel tax. A look at the developments that preceded the recent excise duty cuts: After weeks of incremental increases in fuel prices, Union Finance Minister Nirmala Sitharaman announced that the Union government is slashing fuel taxes. Her point was that the cut of Rs 8 per litre came from the …

Data | Will a cut in Centre’s excise duty on petrol reduce States’ sales tax revenue?
2 years, 6 months ago

Data | Will a cut in Centre’s excise duty on petrol reduce States’ sales tax revenue?

The Hindu  

A war of words has broken out between the Centre and the States regarding the Centre’s excise duty cut and its impact on the tax revenue of the States. Ad-valorem basis means that a State’s sales tax is based on the sum of the Centre’s excise duty, the base price of petrol and the dealer’s commission. Click to remove AMP …

Many States reluctant to cut fuel tax
2 years, 7 months ago

Many States reluctant to cut fuel tax

The Hindu  

The Maharashtra government pared its value added tax levies on petrol and diesel by ₹2.08 and ₹1.44 per litre respectively on Sunday, a day after criticising the Centre for offering minimal tax cuts after drastic hikes over its tenure, a sentiment echoed by most Opposition-ruled States. After announcing the excise duty cuts on petrol and diesel of ₹8 and ₹6 …

TMC leader Saket Gokhale spreads misinformation on Excise rate cuts on petrol, diesel
2 years, 7 months ago

TMC leader Saket Gokhale spreads misinformation on Excise rate cuts on petrol, diesel

Op India  

On Sunday, Trinamool Congress leader Saket Gokhale took to Twitter to attack Finance Minister Nirmala Sitharaman on the cental government’s recent decision to reduce excise duty on petrol and diesel. According to Saket Gokhale, the states’ share 42 per cent of the fuel excise duty, and after yesterday’s cut, the states have to forego Rs.2.52/litre on petrol and Rs. However, …

Not fair or reasonable to expect States to reduce taxes on fuel, says T.N. Finance Minister
2 years, 7 months ago

Not fair or reasonable to expect States to reduce taxes on fuel, says T.N. Finance Minister

The Hindu  

Tamil Nadu is unlikely to further reduce taxes on fuel. Indicating this, State Finance Minister Palanivel Thiaga Rajan on Sunday pointed out the reduction in excise duty on petrol and diesel announced by Finance Minister Nirmala Sitharaman on Saturday would result in an additional loss of around ₹800 crore in annual revenue for Tamil Nadu. Therefore, he argued, it was …

The big picture on fuel taxation
2 years, 7 months ago

The big picture on fuel taxation

Hindustan Times  

Prime minister Narendra Modi’s remarks on April 27, where he named some non-Bharatiya Janata Party ruled states and asked them to bring down taxes on petrol-diesel have expectedly created a political controversy. Data from the ministry of petroleum shows that most BJP ruled states seem to have a lower tax on petrol and diesel than the states Mr Modi named …

Opposition irked by PM Modi’s VAT remark
2 years, 7 months ago

Opposition irked by PM Modi’s VAT remark

The Hindu  

Opposition leaders on Wednesday reacted sharply to Prime Minister Narendra Modi’s comments that States ruled by them had not reduced value added tax on petrol and diesel despite the Centre slashing excise duty and they should do so at the earliest in order to benefit the consumers. The West Bengal Chief Minister claimed that the Centre owed ₹97,000 crore to …

Modi asks states to cut VAT on fuel ‘in national interest’
2 years, 7 months ago

Modi asks states to cut VAT on fuel ‘in national interest’

Live Mint  

Prime minister Narendra Modi on Wednesday urged state governments to lower value added tax on petrol and diesel. The prime minister said Gujarat and Karnataka lost over ₹4,000 crore and ₹5,000 crore, respectively since November on account of lowering of taxes. Last November, after the Centre’s decision to lower excise duty on petrol and diesel by ₹5 and ₹10 per …

Karnataka Budget: No hike in taxes, Rs 1,000 crore for Mekedatu project
2 years, 9 months ago

Karnataka Budget: No hike in taxes, Rs 1,000 crore for Mekedatu project

Deccan Chronicle  

Bengaluru: Karnataka Chief Minister Basavaraj Bommai has proposed no increase in taxes in the Budget 2022-23 presented by him in the state Legislative Assembly on Friday. In his maiden budget, the Chief Minister who also holds the Finance portfolio has expressed his government's commitment for the implementation of the Mekedatu project across river Cauvery, to which neighbouring Tamil Nadu is …

Kerala refuses to reduce VAT on petrol and diesel, says there is no need
3 years, 1 month ago

Kerala refuses to reduce VAT on petrol and diesel, says there is no need

Op India  

Pinarayi Vijayan led left Democratic Front government in Kerala has refused to reduce tax on petrol and diesel on the line of Centre and many NDA ruled states reducing taxes to give relief to people from the runaway prices. NDA ruled states join price cut move After the centre cut the excise duty and urged the states to do the …

Kerala firm on not reducing VAT on fuel prices, says state is in 'grim financial situation'
3 years, 1 month ago

Kerala firm on not reducing VAT on fuel prices, says state is in 'grim financial situation'

India TV News  

The Kerala government has on Friday said firmly that there will be no tax reduction on the petrol and diesel prices, quoting the state's grim financial situation. Justifying the state's decision not to cut the additional tax on fuel, state Finance Minister K N Balagopal, while addressing a press conference said Kerala has not increased the state-tax on petrol and …

Kerala government firm on decision not to reduce fuel tax
3 years, 1 month ago

Kerala government firm on decision not to reduce fuel tax

Firstpost  

While many other states had increased fuel tax and introduced cess during the COVID-19 period, Kerala had not done so considering the plight of struggling commoners, said state Finance Minister K N Balagopal Thiruvananthapuram: Despite opposition criticism, the Kerala government on Friday reaffirmed its stand that it could not forego the taxes on fuel due to the grim financial situation …

Fuel prices see further dip in these states as BJP and its allies cut costs of petrol by Rs 8, diesel by Rs 9
3 years, 1 month ago

Fuel prices see further dip in these states as BJP and its allies cut costs of petrol by Rs 8, diesel by Rs 9

Firstpost  

After duty changes, the costliest petrol and diesel is sold in Rajasthan at Rs 111.10 and Rs 95.71 a litre respectively New Delhi: Petrol price has been further reduced by as much as Rs 8.7 per litre and diesel by Rs 9.52 in BJP ruled states and UTs — from Ladakh to Puducherry — as they matched the central government’s …

With Centre Slashing Excise Duty on Petrol, Diesel, VAT to Get Cut Automatically, Says Rajasthan CM
3 years, 1 month ago

With Centre Slashing Excise Duty on Petrol, Diesel, VAT to Get Cut Automatically, Says Rajasthan CM

News 18  

With the Centre slashing excise duty on petrol and diesel, the value-added tax imposed by the state will get reduced automatically in a proportionate manner, Rajasthan Chief Minister Ashok Gehlot said on Thursday. He demanded a further reduction in the excise duty on petrol and diesel to give people relief from the rising inflation and asserted the Congress government in …

Central govt slashes excise duty on petrol and diesel by Rs 5 and Rs 10
3 years, 1 month ago

Central govt slashes excise duty on petrol and diesel by Rs 5 and Rs 10

Op India  

Giving some relief to the common man on the eve of Diwali, the central govt had decided to reduce the excise duty on petrol and diesel, which will lead to a cut in the price of both fuels. The Government of India has announced that the excise duty on petrol will be reduced by Rs 5, and the excise duty …

Surprised that reducing tax on petrol had increased consumption, generating revenue for Centre: P Thiaga Rajan
3 years, 3 months ago

Surprised that reducing tax on petrol had increased consumption, generating revenue for Centre: P Thiaga Rajan

India Today  

The Tamil Nadu government recently reduced tax on petrol, leading to a price cut by Rs 3 and in turn, will increase the Centre's revenue by Rs 1,200 crore annually. "The other mathematical calculation I made is that if the 12% persists and the Indian Government does not reduce its tax, it raises the Union Government's revenue by about Rs …

Tamil Nadu government slashes petrol prices by Rs 3 per litre in budget speech
3 years, 4 months ago

Tamil Nadu government slashes petrol prices by Rs 3 per litre in budget speech

India Today  

The DMK government has lowered the price of petrol in Tamil Nadu as part of its first annual budget announcement. Presenting the budget on Friday, Tamil Nadu Finance Minister P Thiaga Rajan said the prices of petrol will be slashed by Rs 3 per litre in the state. We have reduced petrol prices by Rs 3 per litre and will …

Karnataka Budget: No Burden of Additional Taxes on Common People, Says CM Yediyurappa
3 years, 9 months ago

Karnataka Budget: No Burden of Additional Taxes on Common People, Says CM Yediyurappa

News 18  

Karnataka Chief Minister B S Yediyurappa presenting the state budget 2021-22 on Monday, said he has not put the burden of additional taxes on the common people. Presenting the Budget 2021-22 in the legislative Assembly, he said, the state government levies Karnataka Sales Tax on petrol and diesel and it is already lesser compared to the other southern states. “Despite …

No proposal to reduce tax on petrol, diesel: UP government
3 years, 9 months ago

No proposal to reduce tax on petrol, diesel: UP government

India TV News  

There is no proposal to reduce tax on petrol and diesel as revenue is needed to ensure betterment of health services and other development works due to the COVID-19 pandemic, the Uttar Pradesh government said on Thursday. Replying to Samajwadi Party member Narendra Verma during the question hour in the state Assembly, Cabinet Minister Satish Mahana said, "There is no …

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