New Delhi: Union Finance Minister Nirmala Sitharaman's big statement comes amid rising prices of petrol diesel. Finance Minister Nirmala Sitharaman has informed that there is no proposal yet to bring crude oil, petrol, diesel, jet fuel (ATF), and natural gas under the Goods and Services Tax (GST).

On July 1, 2017, GST was scrapped by more than a dozen central and state taxes. Five commodities, crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were excluded from the purview of GST. This directly meant that the central government would continue to levy excise duty on them, while the state governments would continue to charge VAT. With excise duty, in particular, these taxes have been increased from time to time.

Petrol and diesel prices are skyrocketing in the country due to rising international oil prices as demand rises. This has also led to a demand to bring fuel under GST. In a written reply to a question in the Lok Sabha, Sitharaman said, "At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF, and natural gas under GST."

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