Home » Bringing petroleum products under GST will bring death to the states: Kumaraswamy

Bringing petroleum products under GST will bring death to the states: Kumaraswamy

Accusing the central government of triggering anger among the people against rising petrol and diesel prices, to launch a to bring petroleum products under the Goods and Services Tax (GST) regime, former Chief Minister HD Kumaraswamy Said on Sunday that such a move would be the voice of death for the states' economy.

The former chief minister said on Twitter that the central government is using the situation to initiate an organized discussion on the issue. “Cess on petroleum products is one of the important sources Income of states. The Center imposes heavy taxes and collects revenue which is more than the states collect. Now, it plans to take away the income of the states by bringing petroleum products under GST. “

He said that the Central Government had not shared the GST revenue as per the original agreement when the states had agreed to the tax regime. “Compensation share and share in GST revenue is yet to come. Still pending due to several thousand crores arrears. States are given a drought after repeated begging for their dues. If petroleum products are brought under the purview of GST, the fate of the state's finances will deteriorate further.

Kumaraswamy warned, “In the absence of income and lack of funds for development work, there may be a situation where states have to present deficit budgets or reduce budget size.” It will be backward. Every citizen has to face its ill effects. He added, “If the central government is eager to bring down the prices, it should first reduce taxes and then ask the states to reduce the cess. If the states flourish, the country will thrive Will the country be built by disturbing the states? “

Urging Chief Minister BS Yeddyurappa to oppose any such move, he said that many states had already opposed the introduction of petroleum products under GST. “State leaders should oppose the move right now, otherwise GST will be like no other.”

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