#mehangai news - Lower Collections: Petroleum plays a drag on states' revenue, widens fiscal deficits

The Indian ExpressLower Collections: Petroleum plays a drag on states' revenue, widens fiscal deficitsThe Indian ExpressThis happened since the excise duty levied by the Centre is fixed on per litre of petrol and diesel, while the state's levy of sales tax or value-added-tax is a percentage of the price. So, as global fuel prices fell last year, the states could not ...Essar Oil, Indian Oil, HPCL, BPCL expanded fuel retail network, Reliance added none in FY16International Business Times, India Editionall 2 news articles »

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