Petrol pump dealers seek ‘one India, one rate’

Jalandhar, October 4

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Reacting to the price correction, the Petrol Pump Dealers Association Punjab today demanded ‘One India One Rate’ for petroleum products. The Central government has reduced the price of both petrol and diesel by Rs 2.50/litre today.

In a press note issued by the Petrol Pump Dealers Association Doaba President Paramjit Singh, it was said due to variation in tax structure in the neighbouring states, the petroleum dealers of Punjab were facing huge losses. There had to be one selling rate of fuels to have level playing field, he said.

The association president added, “The Punjab government has lost revenue from VAT on fuels in the last financial year despite rise in fuel prices. Now that the Central government has reduced excise duty on petrol and diesel, the collection of revenue by Punjab government will go further down by Rs 500 crore.” He also anticipates huge losses to petrol pumps of Punjab if Haryana, Himachal Pradesh and Chandigarh will lower their VAT in line with the directions of Finance Minister Arun Jaitley. —TNS