1. Petroleum products to be out of GST for now, says CEA

Petroleum products to be out of GST for now, says CEA

Petrol and other petroleum products would not be brought under the GST regime for some time after its roll out, Chief Economic Advisor Arvind Subramaniam said today.

By: | Kolkata | Published: December 28, 2015 12:25 AM
Goods and Services Tax, GST, GST bill, gst news, gst 2015, gst india, Congress, Arvind Subramanian

Arvind Subramanian said that the GST council would decide for how long petroleum products would be out of the new taxation regime.

Petrol and other petroleum products would not be brought under the GST regime for some time after its roll out, Chief Economic Advisor Arvind Subramaniam said today.

“Constitutionally petrol and other petroleum products will be within the GST system. But it would be out of the GST dispensation after its implementation for some time”, Subramaniam told reporters on the sidelines of an event organised by ISI here.

He said that the GST council would decide for how long these products would be out of the new taxation regime.

“Even after GST, petrol and other petroleum products would continue to be taxed the way now both by the Centre and states”, he said.

Asked about the roll-out of GST, he said that Union Finance minister Arun Jaitley had said that the government was hoping that the GST Bill would be passed soon.

“All depends on when the Constitution amendment bill gets cleared”, Subramaniam said.

Outlining the benefits of GST, he said that it would give the country a wider tax base and ‘Make in India’ drive would get an impetus.

“However, no single reform could determine the long-term growth of the country”, he said.

  1. M
    Manoj
    Dec 29, 2015 at 5:33 am
    Petrol and Petrol products produce less pollution than any other fuels. People should be encoraged to use Petrol products if the govt thinks of the environment, instead of curbing their interest just for the sake of money and thus not showing any interest on reducing tax on petrol. Requesting the govt to bring petrol and petrol products down rather than just hiking it for the sake of money.
    Reply
    1. Sushant Sourav
      Jun 28, 2017 at 11:08 am
      1. Is it government's environment ? is it not yours? So you think you have a right to discharge everything and anything into environment and government has an obligation to clean that ? comeon ...give me a break! 2. Why should government encourage petrol consumption? Government is righteous in bringing stricter environment norms..like BS-IV. 3. Modi Government understand the impact of fuel and environment...else it would not have signed the Paris treaty...now please go and do some homework...
      Reply
    2. H
      Hari
      Dec 27, 2015 at 2:11 pm
      Modi govt must bring petroleum products under GST which is one of major scam for duping poor of country when Central & state govts are looting public by increasing rates of E.D & VAT at frequent intervals on monthly basis. The people are not given any benefit of downward trend in international prices by both govts. All these collected additional money by different govts are grossly misused by corrupt politicians.
      Reply
      1. Sushant Sourav
        Jun 28, 2017 at 11:02 am
        The petrol prices did not rise as fast in India when international oil prices were very high ~$110/BBL? and the Insurance on Ships transporting the crude was also very high? and the exchange rate bad as well? No body asked the government then how it continued to provide petrol at lower cost? Why? Please analyse properly before posting...
        Reply

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