BHUBANESWAR: Union oil minister Dharmendra Pradhan on Thursday voiced optimism that petroleum merchandise shall be brought under the GST purview that can lend a hand in checking volatility in gas costs.
"In the long run, petroleum products are bound to be included within the ambit of the GST regime ... It is only a matter of time. It will immensely help in containing prices of petrol and diesel," Pradhan instructed journalists right here.
He, however, declined to specify any timeline on bringing petroleum merchandise under the Goods and Services Tax (GST).
The states, he mentioned, seem to be unwilling to include petro pieces throughout the GST ambit as they are deriving main monetary benefits in the current association.
The inclusion of petrol and diesel in the GST regime would convey uniformity in taxation, he mentioned, including the GST council is operating in this course.
Taxes are one of the main components in the back of emerging gas costs in the country, he mentioned, including bringing petroleum merchandise under the GST regime is usually a long-term measure to tackle the problem and the Centre is working out a holistic approach to deal with it.
Among the several components in the back of the gas worth upward push are high world crude worth, geo-politics of oil, fluctuation in dollar and Indian forex alternate rate and local taxes.
However, the Centre is decided not to allow petrol and diesel costs pass out of the reach of the average man and is operating to offer a holistic option to worth volatility with out going again on reforms.
To a query, the petroleum minister mentioned the Centre was once no longer in favour of partial rollback of gas worth deregulation as it's going to no longer withdraw pro-reform measures.
Pradhan mentioned taxes on petrol and diesel are made up of excise accountability charged via the Centre and VAT levied via state governments. Taxes charged via the states will have to be "reasonable" and a few states have cut VAT after aid of excise accountability via the central govt in October closing year, he added.
"In the long run, petroleum products are bound to be included within the ambit of the GST regime ... It is only a matter of time. It will immensely help in containing prices of petrol and diesel," Pradhan instructed journalists right here.
He, however, declined to specify any timeline on bringing petroleum merchandise under the Goods and Services Tax (GST).
The states, he mentioned, seem to be unwilling to include petro pieces throughout the GST ambit as they are deriving main monetary benefits in the current association.
The inclusion of petrol and diesel in the GST regime would convey uniformity in taxation, he mentioned, including the GST council is operating in this course.
Taxes are one of the main components in the back of emerging gas costs in the country, he mentioned, including bringing petroleum merchandise under the GST regime is usually a long-term measure to tackle the problem and the Centre is working out a holistic approach to deal with it.
Among the several components in the back of the gas worth upward push are high world crude worth, geo-politics of oil, fluctuation in dollar and Indian forex alternate rate and local taxes.
However, the Centre is decided not to allow petrol and diesel costs pass out of the reach of the average man and is operating to offer a holistic option to worth volatility with out going again on reforms.
To a query, the petroleum minister mentioned the Centre was once no longer in favour of partial rollback of gas worth deregulation as it's going to no longer withdraw pro-reform measures.
Pradhan mentioned taxes on petrol and diesel are made up of excise accountability charged via the Centre and VAT levied via state governments. Taxes charged via the states will have to be "reasonable" and a few states have cut VAT after aid of excise accountability via the central govt in October closing year, he added.
Oil minister optimistic about petrol, diesel being brought under GST net
![Oil minister optimistic about petrol, diesel being brought under GST net]()
Reviewed by Kailash
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June 07, 2018
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