Business / Centre ready to bring fuel under gst petrol diesel price cheapest detail here

Vikrant Shekhawat : Nov 14, 2022, 08:50 PM
New Delhi : If everything goes well, there will be a big drop in the prices of petrol and diesel in the coming times. Actually, the central government is ready to bring petrol and diesel under the ambit of Goods and Services Tax (GST). Petroleum and Natural Gas Minister Hardeep Singh Puri has given this information.

What did the Union Minister say: Hardeep 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. He 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 taken up with the Finance Minister.

States' Consensus Difficult: Amidst 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 revenue of the states is the tax on liquor and petroleum products.

Hardeep Puri said, “It is not difficult to understand that the states get their revenue from these. Why would the revenue earner want to leave it? 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. .

What did he say on the cut in prices: When asked about the possibility of a fall in the prices of petrol and diesel, Hardeep Puri said, "I am surprised by your question. India has probably seen the least increase in their prices in the last one year. 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. "I don't answer hypothetical questions, but the effort of the central government will be to keep prices stable," he said.