| Clarify petro tax: VAT committee tells govt |
| Our Economy Bureau / New Delhi June 15, 2006 |
| Hitting back at the central government's demand to state governments to cut sales tax on petrol and diesel, the empowered committee of state finance ministers on VAT unnanimously decided to seek information from the central government before taking any decision on such cuts. Ashim Dasgupta, committee chairperson, said: "we want information from finance ministry on how the basic price of both petrol and diesel had been determined over the last 3 years in relation to the movement of international crude prices." "We have also sought information on the revenue gain fop the central government as a result of the increase in prices of petrol and diesel", Dasgupta said. He said the committee also wants details of whether the finance ministry was contemplating any reduction in excise duty of petroleum products. Expressing strong displeasure at the central government |
