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Pradhan appeals to bring petroleum in GST

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  3 April 2018 12:00 AM GMT

New Delhi, April 2: Petroleum products should be brought under GST so that consumers can get the benefit of price ratiolization, Union Minister Dharmendra Pradhan said on Monday, a day after transport fuel prices in Delhi hit record highs, even as cleaner Euro-VI grade petrol and diesel supply began here.

Speaking at an event here to mark Sunday’s launch in Delhi of the “cleanest available” Euro VI emission norm-compliant BS VI fuels, in place of the earlier Euro IV grade, Pradhan recalled how the Central government had cut excise duties on fuels last year in the face of rising global crude prices and some states had followed suit by cutting local taxes.

“On prices we have nothing to hide... petrol, diesel are intertiol commodities and whenever there is a hike or fall in global rates we pass it on to the consumers,” Pradhan said, noting that prices change on a daily basis under dymic pricing. “India is a consumer sensitive country and the government has cut excise duties last year... some states also reduced VAT on fuels. States should now respond accordingly and responsibly.”

“In this regard, I appeal again to the GST Council, filly this product has to come under GST (Goods and Services Tax) so that the consumer can benefit from price ratiolisation,” he said in a reference to states not being in favour of including petroleum in the new indirect tax regime for fear of losing excise revenue. Pradhan also noted that the price of the Indian basket of crude oils had gone over $70 a barrel by the close of trade on the weekend. (IANS)

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