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Bring petroleum products in GST with reduced duty

DNMUM396598 | 9/14/2017 | Author : Edit | WC :270 | Opinion & Viewpoint

DNA MONEY EDIT

As the spike in petrol/diesel prices jacks up transportation cost, ballooning retail inflation, the focus is back on oil retailing.
A massive Rs 7.3 per litre spurt in rates since July has directly impacted freight costs, leading to higher inflation. A statement by oil minister Dharmendra Pradhan ruling out any intervention by the government in the daily revision in petrol and diesel prices has raised concerns over inflation. By linking retail prices to the market-driven prices, the government has enforced continuity of the reform process.
The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions. According to PTI, duty on petrol was hiked by Rs 11.77 per litre and
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