The goods and services tax (GST) framework underwent a series of changes in the first year of its introduction. In the second year, the indirect tax regime is expected to usher in inclusion of items still outside its ambit, mainly some of the petroleum products, including petrol and diesel.
Even though there have been talks about the government mulling over a plan to include these two petroleum products under GST, Finance Secretary Hasmukh Adhia said that it’s for the Council to decide.
The GST Council will take a view whether they want to bring petrol and diesel under GST or not, Finance Secretary Hasmukh Adhia told The Indian Express in an interview.
“As far as those two items (petroleum products and real estate) are concerned, it is for GST Council to take a view whether they want to bring these items in GST or not. Discussions will continue. When, I cannot say. It will be discussed at suitable time,” he said.
On being asked about the probability of inclusion of natural gas and ATF under GST, he said, “Natural gas and ATF are “two easier candidates for inclusion” under GST, but the timing will have to be determined by the GST Council.” Read More
Latest posts by Financial Express (see all)
- Bengaluru suburban rail on fast-track! Piyush Goyal takes big step for project; 5 takeaways for common man - February 23, 2019
- Mumbai-Ahmedabad bullet train: Contract for India’s first such project likely to be of Rs 15,000-20,000 crore - February 22, 2019
- IRCTC Ram Sethu Express tour package: Explore Tamil Nadu heritage, covering 18 temples; journey details here - February 22, 2019