Will bring Petrol, Diesel and ATF under GST: Oil Minister
The newly appointed Oil Minister Hardeep Singh Puri stated that the Ministry of Petroleum and Natural Gas is working on bringing Petrol, Diesel and ATF (Aviation Turbine Fuel) under the ambit of Goods and Services Tax (GST).
After taking charge as Oil Minister on Tuesday, Mr. Puri first remarked that “the Minister of State Suresh Gopi and me, both will work on this. We will try our best to bring them under GST” when in a media session someone questioned him about imposing GST on these fuels.
“In order for the GST to be implemented on these fuels, firstly the Petroleum Ministry must recommend it to the Finance Ministry, which would then forward the proposal of bringing Petrol, Diesel and ATF under the ambit of GST to the GST Council for consideration”, as per the sources.
These fuels like crude oil, high-speed diesel, motor spirit commonly known as petrol, Aviation Turbine Fuel (ATF) and Natural Gas are already permitted for GST constitutionally, however, it all depends on the GST Council when they recommend a date for GST implementation on these petroleum products.
On auto fuels, currently, the Central government imposes excise duty and the State government levies VAT (value-added tax) and sales tax. Including these petroleum products under GST has long been a popular demand to decrease the prices for consumers. Many major political parties have advocated for the inclusion of these fuels under GST.
