Goa petrol, diesel dealers face Rs 6-crore loss after excise duty, VAT cut


PTI, Nov 6, 2021, 8:43 AM IST

Panaji: The sudden cut in excise duty and value-added tax on petrol and diesel on Diwali eve by the Centre and the Goa government has resulted in a loss of around Rs 6 crore for dealers of the two fuels in the state, a senior official from the industry said on Friday.

All Goa Petrol Pump Dealers’ Association President Paresh Joshi told PTI that all the 130 dealers in the state have suffered a cumulative loss of around Rs 6 crore.

He said oil companies had asked the dealers to keep their tanks full on the eve of Diwali as filling terminals would be closed for the next two days.

“When the dealers had taken the stock to their optimum limit, there was a sudden announcement of the reduction in prices by the Centre and later by the state government. This resulted in whopping losses for the dealers who had purchased the fuels at older rates,” Joshi said.

Post-excise duty cut by the Centre on November 3 and then VAT reduction by the Goa government, the price of petrol came down by Rs 12 per litre and that of diesel by Rs 17 a litre in the coastal state.

Most of the dealers have faced a loss of Rs 10 lakh to Rs 12 lakh, depending on their storage capacity, and it will take one or one-and-a-half months to make up for the losses, Joshi said.

He demanded that the government ask oil companies to provide relief to the dealers through invoices that would be raised in the future or they should be paid back in cash the amount they have lost due to the cut in rates.

Joshi, however, said the dealers are happy that common citizens have been given relief, but the former should not be made to pay for that.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Lone tusker spotted on NH-166 near Karkala, disrupts traffic

Lokayukta police summon Karnataka CM Siddaramaiah for questioning in MUDA case on Wednesday

Not ‘kaun banega mukhyamantri’ contest; MVA to name CM pick after polls: Jairam Ramesh

Related Articles More

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Group clash in Indore after argument over bursting firecrackers: NSA slapped against 2 accused

Police rescue 70 cattle after gunfight with cow smugglers in Rajasthan’s Bharatpur

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Group clash in Indore after argument over bursting firecrackers: NSA slapped against 2 accused

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.