GST On Petrol May Decrease The Price
GST On Petrol May Decrease The Price: May the GST not understandable to all the people, but nowadays this is the most heard from all the people in India. The decision was taken by the Central government making a single tax policy across the country. In a few days, people would know the cost has gone up or may reduce. Since then common man can come out with his reviews on GST. But those who are aware of economic issues are evolving about GST about petrol and diesel prices.
Why petrol and diesel prices are not brought under GST. Now for petrol and diesel, the central excise duty is 23% and state VAT is 34%. Total tax is 57%. If these essential products are brought under GST, the maximum tax will be only 28%, which means the prices of petrol and diesel can come down by almost 50%. Moreover, The public at large will be benefited.
