Goa may reduce VAT on petro products
PTI, PANAJI | 30 June 2010 19:09 IST
Chief Minister Digambar Kamat today said the state was examining the possibility of reducing Value Added Tax (VAT) on petroleum products to ease the hiked prices of petro products.
The Commissioner of Commercial Taxes Department has been asked to examine the possibility of reducing VAT on these products, Kamat told PTI.
"Last time, when prices were hiked we had reduced the VAT on it," he said. Kamat said the commissioner of commercial taxes would now examine the situation in other states vis-a-vis reduction of VAT.
"Generally, there is uniformity in VAT between various states. This aspect also needs to be considered", Kamat, who is also holding the finance portfolio, said.
The Opposition Bharatiya Janata Party (BJP) had protested against the petroleum product hike.
BJP leader Manohar Parrikar had said the state can reduce the tax on petroleum product so as to give relief to the common people.
Small traders under shops and establishments could do with reduction of vat tax. If govt can do on petroleum then why not traders who earn mere 6-7% margin while at the same time pay to govt vat @ 12.5%?