New Delhi, July 03: The govt Wednesday set to defer revising the retail costs of domestic LPG and public distribution kerosine thanks to the upward revision of state specific prices (SSC) until completion of discussions with state governments.
“Revision of retail selling price of domestic LPG and PDS kerosine to those customers on account of upward revision of the State Specific price theme (SSC) on Domestic LPG and PDS kerosine would be delayed until the discussions are completed with the state governments during July 2014”, the petroleum ministry aforesaid here in a statement.
The decision was taken keeping the interests of customers “utmost” in mind, it added.
Public sector oil promoting corporations (OMCs) incur sure state-specific prices due to levies like entry tax, octroi, input tax, restrictions on value-added tax (VAT), that become unrecoverable levies for OMCs.
The government had introduced the SSC theme in 2012 to recover such unrecoverable levies from customers within the states and municipal areas levying such taxes.
OMCs were thenceforth redaction quarterly the retail costs of the sensitive petroleum product as well as PDS kerosine and preparation gas in twelve states levying such state specific taxes.
The latest revision in these states was due in July 2014, the statement aforesaid.
