Speaking in the Rajya Sabha on Tuesday Finance Minister Arun Jaitley said the government wants to bring petroleum and petroleum products under the ambit of GST and is awaiting the states’ response on the same.
“Government is in favour of bringing petroleum products under GST. We would like to await consensus of the states and hope states at some stage soner or later agree to the consensus,” said Jaitley.
At present, different petroleum products are taxed differently across states. Given the huge variance in the value-added tax (VAT) on petroleum products across the states, the petroleum ministry has been advocating for uniformity in taxes.
A case in point being diesel. While the VAT applicable on diesel in Delhi is 16.75%, it is 28.51% in Mumbai. Read More…
Govt Working To Include Petroleum Products Under GST, Says Finance Minister Arun Jaitley added by Moneycontrol.com on
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