Union Minister Hardeep Singh Puri said, we have already been prepared for this. This is my understanding. The second issue, however, is the way it is implemented. That question should be raised with the Finance Minister. The demand for bringing petrol and diesel under the ambit of GST has been going on for a long time.
The central government is ready to bring petrol and diesel under GST. Now the decision has to be taken by the states
Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday that the Central Government petrol and is ready to bring diesel under the purview of the Goods and Services Tax (GST), but the states are less likely to agree on this. Puri said that petrol and diesel GST The consent of the states is necessary to bring it under the ambit of this and if the states take initiative in this direction, then the center is also ready for it. This means that the Center has completely put this whole matter in the court of the states. Petrol-diesel if the states agree GST May come within the range of Rs.
Union Minister Hardeep Singh Puri said, we have already been prepared for this. This is my understanding. The second issue, however, is the way it is implemented. That question should be raised with the Finance Minister. Amid the long-standing demand to bring petrol and diesel under the purview of GST, the Petroleum Minister expressed apprehension that there is little chance of a consensus among the states. He said that the main source of income of the states is the tax on liquor and petroleum products.
Hardeep Puri said, it is not difficult to understand that states get revenue from them. Why would the revenue earner want to leave it? Only the central government is concerned about inflation and other things. Referring to the decision of the Kerala High Court, he said that the matter was suggested to be taken up in the GST Council but the finance ministers of the states did not agree to it. As far as GST is concerned, we or your wishes have their place, we are part of a cooperative federal system.
Why not petrol and diesel in GST
The loss in revenue to the states is the main reason behind not bringing petrol and diesel under GST. Even if the state governments take petrol and diesel under the purview of GST and keep these two oils in the highest tax slab of GST, they will still have to bear a huge loss on earnings. Currently, the highest level of GST is 28%. That is, GST cannot be levied on any item more than this. If petrol and diesel are kept within the range of 28%, then the income of the states will decrease greatly. This is the reason why the state governments are not agreeing to bring petrol and diesel under GST.
When will the price of petrol and diesel come down?
When asked about the possibility of a fall in the prices of petrol and diesel, Puri said, “I am surprised by your question. The least increase in their prices in the last one year has probably happened in India itself. Morgan Stanley is also saying that India has been in one of the best positions in the world. He said that India has protected itself from the impact of rising crude oil prices by taking steps like cutting excise duty. He said, I do not answer hypothetical questions, but the effort of the central government will be to keep the prices stable.
English News Headline: Center ready to bring petrol diesel under GST: petroleum minister