[SPAM] State Government Imposed Tax Of 55% On LPG Cylinders
The post is shared on social media with a claim that the Central government’s tax on an LPG cylinder is just 5% whereas the respective State governments levy a tax of 55%
The below post has been circulating on social media
— sunil pacholi (@sunilpacholi) July 20, 2021
Verification: The State Government has not imposed a tax of 55% on the LPG cylinders
The post is being shared widely on social media with a claim that the Central government’s tax on an LPG cylinder is just 5% whereas the respective State governments levy a tax of 55%. This is false. Domestic LPG is taxed at 5% GST shared equally between the centre and state.
The state government has not imposed a tax of 55% on the LPG cylinders.
The domestic LPG cylinders fall under the 5% GST (CGST – 2.5% + SGST – 2.5%) slab. The Central and the State governments do not levy separate taxes of their own on the LPG cylinders. On the official website of ‘Central Board of Indirect Taxes and Customs (CBIC)’, it can be found that the domestic LPG cylinders fall under the 5% GST (CGST – 2.5% + SGST – 2.5%) slab.
Look for the data published by Petroleum Planning and Analysis Cell (PPAC), a body under the Ministry of Petroleum and Natural Gas
Petrol and diesel have different levies by both the state and central governments. Petrol and diesel have two taxation components and thus both matter for the pricing criteria for petrol and diesel. Whereas LPG falls under singular GST which has an overall 5% levy on the price of domestic LPG.
Know more about GST (Goods and Service Tax) on Gas on bankbazar.com.
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Post Date: 27 July 2021
Post ID: #78980