Will consult States on bringing petro products into GST: Narendra Modi

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  • Modi’s statement follows feedback from industry leaders

The government would consult states on bringing petroleum products into the ambit of the Goods and Services Tax (GST), Prime Minister Narendra Modi said on Monday.Mr. Modi was reacting to suggestions from industry leaders to bring petroleum products, that now face high Central and State levies, into the GST net, at an official meeting with head honchos of the oil and gas industry.

The Centre currently levies an excise duty of ₹19.48 per litre on petrol and states levy VAT ranging between 6% and 48%. Petroleum Minister Dharmendra Pradhan has repeatedly urged the GST Council to bring petrol and diesel under GST.At the moment, petrol, diesel, natural gas, and alcohol are outside GST.The PM stressed the need to develop energy infrastructure in eastern India, and urged the private sector to participate in coal gasification and biomass energy through joint ventures.

Read More: http://www.thehindu.com/business/Economy/status-of-energy-sector-in-india-highly-uneven-says-narendra-modi/article19829134.ece?homepage=true

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