Union Minister Hardeep Singh Puri said, we have already 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 states have to decide
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 the consent of the states is necessary to bring petrol and diesel under the purview of GST 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 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 between 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 these. Why would the revenue receiver 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 it was suggested to take up the matter in the GST Council, but the finance ministers of the states did not agree on it. He said, as far as GST is concerned, our or your wishes are in place, we are part of a cooperative federal system.
Why not petrol-diesel in GST
Loss of revenue to the states is an important reason behind not bringing petrol and diesel under GST. Even if the state governments bring petrol-diesel under the ambit of GST and keep both these oils in the highest tax slab of GST, they will still have to bear huge losses on their earnings. Right now the highest level of GST is 28 percent. That means GST cannot be levied on anything more than this. If petrol-diesel is kept within the range of 28 percent, then the earnings of the states will decrease a lot. This is the reason why the state governments are not agreeing to bring petrol and diesel under GST.
When will the prices of petrol and diesel decrease
When asked about the possibility of a fall in the prices of petrol and diesel, Puri said, I am surprised by your question. In the last one year, the lowest increase in their prices has probably happened in India only. 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 reduction in excise duty. He said, I do not answer hypothetical questions, but the effort of the central government will be that the prices remain stable.
English News Headline: centre ready to bring petrol diesel under GST petroleum minister says
Source: www.tv9hindi.com”