OIL & GAS

Fuel should come under GST, says Union petroleum and natural gas minister Dharmendra Pradhan

Stating that he was of the opinion that petrol and diesel should be brought under the GST regime, Union petroleum and natural gas minister Dharmendra Pradhan said it is up to the GST Council to decide whether these fuels should be brought under the Goods and Services Tax, which, many believe, would substantially bring down the prices.

The Union minister, who was in Gandhinagar on Monday, blamed the recent surge in global crude oil prices for the fuel price hike in India.

Asked about his stand to include fuel in the GST regime as a measure to give respite to citizens from the price rise, Pradhan said he agrees with the idea. “The price of this commodity is regulated by the global market. As a sector in-charge, I am of the opinion that fuel should be brought under the GST. But, it will be done only when members of the GST Council reach a consensus on it. It is the GST Council which will take a collective decision about it,” he said.

“The prices of petroleum products have gone up. The main reason is that the price of crude oil has gone over USD 70 (per barrel) in the international market.

Source
Times Of India
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