Automobile
Union Minister Nitin Gadkari tells how price of petrol and diesel can be brought down
Union minister Nitin Gadkari said if petrol, diesel and other petroleum products are brought under the single, nationwide GST regime, then taxes will reduce further and both the Centre and the states will generate more revenue.
Finance minister Nirmala Sitharaman will definitely try to bring petrol and diesel under GST if she gets the support of the state governments, said Gadkari while addressing the Times Now Summit virtually, as reported by news agency PTI.
“In the GST Council, finance ministers of states are also members. Some states are against bringing petrol and diesel under the GST regime. If petrol and diesel will be brought under the GST regime, then taxes on these products will be reduced and revenue of both the Centre and the states will increase,” the minister said.
In September, the GST council discussed the issue as asked by the Kerala high court and decided against bringing petrol and diesel under GST. As the states opposed the proposal, the council decided to keep petrol, diesel out of the GST purview. Including petrol and diesel under GST will have resulted in a reduction in near record-high rates. But subsuming the current excise duty and VAT (value-added tax) into one national rate will have impacted revenues.
Sitharaman said the Council discussed the issue only because the Kerala high court had asked it to do so but felt it was not the right time to include petroleum products under GST. “It will be reported to the High Court of Kerala that it was discussed and the GST Council felt that it wasn’t the time to bring the petroleum products into the GST,” she said following the GST council meeting.
“The way the Centre has provided relief to the common man (by cutting excise duty on petrol and diesel by ₹5 and ₹10 per litre, respectively), there is an expectation that the states will also cut taxes (VAT rates) on diesel and petrol to provide relief to the common man,” Gadkari said commenting on the recent excise duty cut.
Automobile
Improved version of Hyundai Creta launched in Indian market: Check it out here
Hyundai India launched the much-awaited Creta Knight Edition in the country at a starting price of Rs 13.51 lakh (ex-showroom, all-India). This new variant is available in both petrol and diesel engine options and can be had either with a manual or an automatic transmission unit. To read more about the Creta Knight Edition, click here. In addition to this, the company has also introduced a model-year update for the Hyundai Creta with new feature additions.
The 2022 Hyundai Creta is now available in a new Denim Blue colour option and the Highline TPMS is now standard across all variants. The SX (O) trim now also gets a glossy black centre console. Furthermore, the company will offer the iMT option on the 1.5-litre petrol ‘S’ variant to further expand choices for the customers. The new S+ variant powered by a 1.4-litre T-GDi petrol engine with 7DCT now gets an additional set of features, such as –
– Smart panoramic sunroof
– 16-inch black alloy wheels
– Smartphone wireless charger
– Rear Disc Brakes
– Electronic Stability Control (ESC)
– Vehicle Stability Management (VSM)
– Hill start assist control (HAC)
– Paddle shifters
– Metal pedals
– Electric and auto-folding ORVMs
– Power window auto up/down
Mechanically, the SUV continues to be powered by the existing petrol and diesel engine options.