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Higher VAT: Delhi's diesel sales drop 79% in May
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SME Times News Bureau | 05 Jun, 2020
Transportation fuel - diesel's sales dropped by 79 per cent last month
in the national capital, said the city's fuel pump dealers.
According
to the Delhi Petrol Dealers Association (DPDA), the decision to
increase VAT, although taken with a good intention to increase revenue
is proving to be counterproductive as the city is losing both sales and
revenue.
The state VAT rates on 'Petrol & Diesel' were increased to the highest slab of 30 per cent on May 5.
Lately, diesel sales had dropped in April by 84 per cent compared to historical sales.
"Even
with partial unlocking of the state in May, the sales drop in diesel is
still at (-) 79 per cent (YoY)," the association said in a statement.
"Whereas the neighbouring states of Haryana and Uttar Pradesh have recovered most of their diesel sales."
Consequently, a massive rate difference of around Rs 7 per litre has occurred between Delhi and its neighbouring states.
"The
vehicles bringing in essential commodities to Delhi were fueling from
Delhi till May 5, 2020, however with such a rate difference these
vehicles are now fueling from neighbouring states," the statement said.
The association has written again to the Delhi government to reduce VAT on petroleum products.
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