Petrol-Diesel to be brought under the ambit of GST? Finance Minister Sitharaman's statement

Jul 20 2021 04:29 PM
Petrol-Diesel to be brought under the ambit of GST? Finance Minister Sitharaman's statement

New Delhi: The Finance Ministry today said in the Upper House of Parliament that GST Council has not yet made any recommendation to bring petrol and diesel under the preview of GST. The Finance Ministry has categorically stated that excise duty on petroleum is used for infrastructure and development works. This decision has been taken in view of the current fiscal situation.

Earlier in the Lok Sabha on Monday, Petroleum and Natural Gas Minister Rameshwar Teli said that the GST Council has not yet recommended the inclusion of oil and gas within the ambit of GST. So petroleum will now be kept out of the purview of GST. He has informed Parliament in writing about this. Rameshwar Teli has also informed the Lok Sabha about the income from excise duty on petrol and diesel.

Infy 2020-21, the central government's tax on petrol and diesel has increased by 88 per cent to 3.35 lakh crore. Excise duty on petrol has increased from Rs 19.98 to Rs 32.90. Import duty on diesel has increased from Rs 15.83 to Rs 31.80.

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