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Nitin Gadkari demands tax cut on flex fuel vehicles.Consideration should be given to implementing the rule of levying only 12% GST.Use of biofuel will reduce pollution and fuel import.
New Delhi. Import of petrol and diesel in the country is becoming a challenge for the currency reserves and the environment. Union Transport and Highways Minister Nitin Gadkari has expressed concern on this many times. Nitin Gadkari believes that only by promoting vehicles running on flex fuel in the country, we can get rid of the burden of import of petrol and diesel. For this, the minister has prepared a tremendous plan.
Speaking at the India Bio-Energy and Tech Expo organised by IFGE, Gadkari stressed the need to cut fossil fuel imports and promote the use of biofuels. He said flex-fuel vehicles, which can run on a variety of fuels, including a blend of petrol with ethanol or methanol, could benefit from a lower GST rate. Gadkari said he has asked Maharashtra Finance Minister Ajit Pawar to attend a GST meeting with Union Finance Minister Nirmala Sitharaman to discuss the issue.
Need to cut GST on flex fuel vehicles
Union Minister Nitin Gadkari has urged state finance ministers to consider reducing the Goods and Services Tax (GST) on flex-fuel vehicles to 12 percent. Currently, 28% GST is levied on fuel-powered passenger vehicles (cars). Reducing the GST rate on flex fuel vehicles will make them cheaper and people will be able to buy them easily. This will reduce the demand for petrol and diesel-powered vehicles and help curb pollution.
22 lakh crore rupees are spent every year on fuel import
Gadkari also said that he has requested Uttar Pradesh Chief Minister Yogi Adityanath to consider reducing taxes on flex-fuel vehicles in his state. He said that India spends up to Rs 22 lakh crore annually on importing fossil fuels, which is a matter of concern both economically and environmentally.
Gadkari hoped that by reducing fossil fuel imports and encouraging the use of biofuels, India can provide support to the agriculture sector, which will benefit significantly from the growth of the biofuel industry. He believes that there is tremendous potential in this sector, which can help reduce imports and promote sustainable energy solutions.
Tag: auto news, Union Minister Nitin Gadkari
first published : September 3, 2024, 4:49 pm IST
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