FINANCE MINISTER NIRMALA Sitharaman on Wednesday said petroleum products would be included in the Goods and Services Tax GST) regime once all states and the Centre reach anagreementon the rates of tax on the fuels in the GST Council.
As per Article 279A 5) of the Constitution, the Goods and Services Tax Council shall recommend the date on which GST shall be levied on all excluded products, ie, petroleum crude, high-speed diesel, motor spirit petrol), natural gas and aviation turbine fuel."Once the states agree,we will have the petroleum products also covered under the GST. So, that's not so much of us not wanting it," she said speaking at an event organised by industry body PHDCCI.
"What they have to do is to determine a rate and once they tell me the rate, we will include these items) into the GST,'she added.
This story is from the February 16, 2023 edition of Financial Express Mumbai.
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This story is from the February 16, 2023 edition of Financial Express Mumbai.
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