How GST on petrol, diesel will bring down prices
NEW DELHI: The soaring prices of petrol and diesel has time and again highlighted the question of whether bringing it under the goods and services tax (GST) re gie will prove beneficial for the consumers.
The much debated and speculated issue might finally come to a conclusion on Friday when the 45th GST Council meets in Lucknow.
For the first time in 20 months, the GST council will be conducting a physical meeting. After December 18, 2019, all the GST Council meetings were done in virtual mode.
“We are not saying that we should bring petrol and diesel under GST immediately, we are basically asking states to suggest a timeline,” a go nment source told TOI ahead of the crucial meeting of the GST Council on Friday.
When GST was introduced in July 2017, five commodities -- crude oil, natural gas, petrol, diesel and aviation turbine fuel (ATF) -- were kept out of the GST purview, considering the revenue dependence of the central and state go nments on them.
Current price of petrol, diesel
As demand recovered, the spike in global oil prices pushed petrol and diesel prices to an all-time high, leading to demand for bringing it under GST.
Fuel prices have been hovering at record levels on account of 41 increases in its retail rates since April this year.
However, since the past 11 days there has been no revision in prices of petrol and diesel as oil marketing companies (OMCs) kept a tab on global oil prices.
Accordingly, in Delhi a litre of petrol costs Rs 101.19 and diesel costs Rs 88.62.
Similarly, price of petrol in Mumbai, Chennai and Kolkata stood unchanged at Rs 107.26, Rs 98.96, Rs 101.62 per litre, respectively.
Diesel price also remained unchanged. In Delhi, Mumbai, Chennai and Kolkata, the fuel was sold for Rs 88.62, Rs 96.19, Rs 93.26 and Rs 91.71 per litre respectively.
Its a simple question - can the state go nments agree to be more transparent and give up the mi to stop skimming the public at large?
don't roll back petrol and diesel prices by bringing those under gst. . any ways we are affording. the extra tax hence collected should be used to make our defense strong. in coming years we forsee a war looming large on our country. remain prepared for the that.
Bogus debate GST or no GST prices of petroleum products will continue to remain high. Petroleum products are cash cow of both state and central go nment's don't see why they would part away with this revenue. Consumers will continue to suffer whatever the sy em.
Its a dream under BJP GOVT to bring petrol under GST....They have removed subsidies from GAS even....These fake degree holders and liers Goondas dont know how to run a nation they only knows only increasing prices and sell GOVT assets without any development and providing Jobs.
Shailendra Mumbai Pune
BJP thugs need to show their own es before 2014. They had organized a rally ag inst high petrol diesel prices. They were shouting that current Congress is inefficient to run the govt. Video is there on youtube.
Yerva Vijaya Bhaskar Reddy
The so called CMs who denounce oil price rise should ve for its inclusion in GST to show how much they are concerned with common people.
Po iticians will not let this happen
the central govt is looting public by imposing excise duty more and now playing innocent
We must also prest ag inst all state govts for not approving this proposal.
Raise Your Voice
Stop giving subsidies and freebies, it only leads to wastage and co ption, let people work hard to make a living, things will become cher and economical to everyone
The real reason why petrol and diesel are not under GST is because both center and states are looting the exchequer by VAT and excise duty implementation. Instead of thinking about consumers, they are thinking about filling their pockets.
Modi won't let this happen in the near future. It's a major stream of revenue for Central Go nment. Unfortunately people will have to live with it.
Today it is easy for States to blame Central Govt for price rises of Petroleum products. That is why they are not ready to bring them under GST re gie. In some States VAT is higher than Excise duty. No body is ready to sit and discuss the real issue.
Biranchi Narayan Acharya
interestingly for fuel price is the central go nment is always blamed although state go nments never agree on bringing the fuel price under the GST re gie. When the GST rolled out, state go nments agreed only one condition that Fuel, liquor, and nicotine should be out of the GST re gie.
don't ve for parties who oppose inclusion in gst
Centre will blame the states
States will blame the centre.
No one cares about the common man.
TSR The Urbanist
Getting petroleum into the gamut of GST is a must and let a new higher uniform slab rate of 28% be imposed instead of such arbitrary fleecing
this is never going to happen. so Stop publishing such fictitious articles
Scamgress will prest ag inst the reduction in fuel prices...they want to loot!
Great Opportunity at States to reduce Cor ions and improve Govt efficiency.