India's fuel retailers demand national tax rate for fuel
A number of fuel retailers in India are demanding a ‘One Nation One Rate’ for petroleum products in order to mitigate the price disparity between states.
Due to the different tax systems each region in India has, major disparities in the price of fuel between neighbouring territories exist. Now gas station owners across the country are demanding one tax rate for the whole country, reported The Indian Express.
“We are demanding ‘one nation one rate’ for fuel so that there should be no disparity in prices of petrol and diesel in the states. This step will help in controlling prices of this essential commodity,” said Ajay Bansal, President of All India Petroleum Dealers Association.
Due to the different VAT rates in states, the disparity in fuel prices can vary from 60 paise and Rs 4 per litre for diesel and Rs1 to Rs 7.50 per litre for petrol. Goa imposes the lowest tax on fuel, while the southern region of Tamil Nahu the highest.
Exchange rate on 19/07/2016: 1.00 USD = 67.18 Rupees
