Oil Ministry Eyes GST On Petrol, Diesel, Aviation Turbine Fuel

6/12/2024 2:46:33 PM

(MENAFN- KNN India) New Delhi, Jun 12 (KNN) The newly appointed Minister of petroleum and Natural gas Hardeep Singh Puri and Minister of State Suresh Gopi have signalled their intent to work towards bringing petrol, diesel, and Aviation turbine fuel (ATF) under the goods and services tax (GST) regime.

In his first remarks after taking charge on Tuesday, Puri stated, "We will try. The Minister of State and I will both work on it," when questioned about imposing GST on these fuels currently outside its purview.

Sources indicate that for the levy to materialise, the Petroleum Ministry must recommend it to the Finance Ministry, which would then table the proposal before the GST Council for consideration.

At present, crude oil, motor spirit (petrol), high speed diesel, ATF, and natural gas are constitutionally permitted for GST, though the Council must recommend a date for its implementation on these products.

The Central government currently imposes excise duty on auto fuels, while states levy value-added tax (VAT) and sales tax. Subsuming these fuels under GST has been a longstanding demand to reduce prices for consumers, endorsed by most major political parties.

(KNN Bureau)

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