Petrol Diesel in GST: Petroleum and Natural Gas Minister Hardeep Singh Puri has said that the Center is ready to bring petrol and diesel under the purview of the Goods and Services Tax (GST) but states are unlikely to agree on it. Hardeep Singh Puri said that the consent of the states is necessary to bring petrol and diesel under the ambit of GST and if the states take initiative in this direction, then the Center is also ready for it.
The Union Minister said, “We have already prepared for this. This is my understanding. However, the second issue is how to implement it. That question should be taken up with the Finance Minister.”
There has been a demand for a long time to bring petrol and diesel under the ambit of GST.
Amid the long-standing demand to bring petrol and diesel under the purview of GST, the Petroleum Minister expressed apprehension that there is little chance of a consensus between the states. He said that the main source of revenue of the states is the tax on liquor and petroleum products. Puri said, “It is not very difficult to understand that the states get their revenue from them. Why would the revenue earner want to leave it? Only the central government is concerned about inflation rate and other things.”
Finance ministers of the states were not ready – Hardeep Singh Puri
Referring to the decision of the Kerala High Court, he said that it was suggested to take up the matter in the GST Council, but the finance ministers of the states did not agree on it. He said, “As far as GST is concerned, our or your wishes are in place, we are part of a cooperative federal system.”
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What is the probability of a fall in the prices of petrol and diesel
When asked about the possibility of a fall in the prices of petrol and diesel, Puri said, “I am surprised by your question. India has probably seen the least increase in their prices in the last one year. Morgan Stanley is also saying That India has been in one of the best positions in the world.” He said that India has protected itself from the impact of rising crude oil prices by taking steps like reduction in excise duty. He said, “I do not answer hypothetical questions, but the effort of the central government will be that the prices remain stable.”
Oil prices in India and America mentioned
Hardeep Singh Puri also said that fuel prices in North America have seen an increase of 43 per cent in the last one year while in India the increase has been only 2 per cent. If there is a ray of hope anywhere in the world, then it is India. I am not saying this but the Managing Director of the IMF is saying this.
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