Petroleum products to be brought under GST in stages: Finance Secretary

Petroleum products will be brought under the ambit of Goods and Services Tax (GST), but in stages, Finance and Revenue secretary Hasmukh Adhia said.

"One of the demands that is there before us, we will see. Everything will happen in stages,” said Adhia at a session on ‘One Year Journey of GST’ organised by Federation of Indian Chambers of Commerce and Industry (FICCI).

Currently, five petroleum products — petrol, diesel, crude oil, natural gas and aviation turbine fuel (ATF) — are excluded from GST.

These five items are being taxed in accordance with the pre-GST tax regime, till the highest decision making panel in the new taxation system, the GST Council, chooses to include it.

Under the existing structure, fuel products attract the Centre’s excise duty and state’s value added tax.

Both these and all other levies will get subsumed under GST if they were brought under its ambit.

(Agencies)