New Delhi. The demand for bringing petrol and diesel under the GST ambit has begun once agin. This time once again the discussion has begun. The industry body ASSOCHAM has also sought inclusion of petroleum products in the Goods and Services Tax (GST) and some local and stamp duty such as stamp duty. If this happens, petrol prices may see a steep fall, which will give a lot of relief to drivers and others. In a memorandum to the GST Council on behalf of the ASSOCHAM, it said that "the two-year period for keeping petroleum products out of GST has been completed."

The exit of GST of these substances is also increasing the cost of business. So, these petroleum products should be brought under GST," said ASSOCHAM, adding that "market tax, road tax and vehicle tax should also be included in GST." This will help remove business bottlenecks and make the input tax credit itis available smoothly. It will also help reduce the wider impact of taxes," the industry body has also suggested to the GST Council that "gst should not be levied on the sale and market promotion activities of invoices paid for refund of various charges."

Petrol prices can be reduced by Rs 25, the Indian Oil website said, "In Delhi, Rs 35.56 is paid as VAT and excise duty on one litre of petrol and on an average dealer's commission is Rs 3.57 per litre and VAT on dealer commission. Sits around Rs 15.58 a litre. At the same time, Rs. 0.31 per litre is charged as freight. There are reports that petrol could be cheaper by Up to Rs 25 if the government treats the demands of the ASSOCHAM and if the government brings petroleum products under the GST net.

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