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Petroleum products won't be under GST for some time

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  28 Dec 2015 12:00 AM GMT

Kolkata, Dec 27: Petrol and other petroleum products would not be brought under the ambit of the proposed new indirect tax regime - the pan-India goods and services tax (GST) - for some time after its implementation, Chief Economic Advisor (CEA) Arvind Subramaniam said on Sunday.

"Constitutiolly petrol and other petroleum products will be within the GST system. But it would be out of the GST dispensation after its implementation for some time," he told reporters on the sidelines of an event here.

"Even after GST is rolled out, petrol and other petroleum products would continue to be taxed in the present way both by the centre and states."

On a timeline for the roll-out of GST, Subramaniam said that Fince Minister Arun Jaitley had said that the government was hoping the GST Bill would be passed soon.

"All depends on when the constitution amendment bill gets cleared," he said.

The government said earlier this week that it is uble to predict a timeline for the passage of the GST Bill, currently stalled in the Rajya Sabha because the ruling NDA does not have the required numbers in the upper house of parliament. It was passed by the Lok Sabha in May.

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