RAMAMURTHY WANTS CUT IN SALES TAX

Vol 2, PW 24 (23 Dec 98) News in Brief
     

Oil minister Vazhapadi Ramamurthy has written to Indias state governments asking them to either abolish or drastically reduce the sales tax they impose on petroleum products.

The oil minister claims that 11 state government in India earn a combined Rs17,000 crores ($4bn) per annum from the oil ministry by imposing sales tax. He said the rate was as high as 46% of the product value in Andhra Pradesh and 44% in Tamil Nadu.