TS opposes Petro Products under GST: Etala

TS opposes Petro Products under GST: Etala
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Finance Minister E Rajender today vehemently opposed the proposal of the Centre to bring petroleum products under GST regime and suggested it to reduce central taxes instead. Talking to reporters here the minister accused the Centre of depriving the states of their rights and share of taxes they are supposed to get.

Already the Centre is getting 52 per cent taxes through GST and the states are getting only 48 per cent he said. At this juncture any move to bring petroleum products under GST regime will further aggravate the financial conditions of the rest of the states in the country, he deplored. Effort to bring the petroleum products under the GST regime is not all right and Telangana Government will stiffly oppose it Rajender said. The Centre should slash its taxes to some extent to reduce burden on people who are opposing steep price hike of petroleum products. He accused the Centre of trying to dictate terms to the states by reducing the tax share to them. This move will harm federal spirit among the states and the Centre he opined. Rajender also asked the Centre to increase 42 per cent tax share being offered to the states and allow them to obtain more loans as per 15thfinance commission norms. (NSS)