Just four days after hiking the Value-Added-Tax (VAT) on cooking gas, the YCP government in AP is now considering to increase the CESS on petrol and diesel. The AP government is planning to hike Rs 1 per litre under this new proposal.
Also the government estimates that it would get a revenue of Rs 600 crore with this hike. By doing so, the AP government wants to utilize these funds for the development of roads. A special road development authority is likely to be formed and all the revenue from the increase of CESS would be diverted to this authority. This would be a continuous process, said an official from the government.
Earlier the AP CM Jagan’s government had hiked the prices of petrol and diesel by Rs 1.24 and 93 paise respectively by upwardly revising the VAT. Currently the CESS on petrol in AP stands at Rs 4, apart from a VAT of 31 percent and that on diesel is Rs 4, apart from a VAT of 22.25 percent.
AP is going through a huge shortfall of the revenues due to the global pandemic and it is left with no other option rather to hike the taxes on crude oil.
This post was last modified on 17 September 2020 4:03 pm
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