Finance Minister Nirmala Sitharaman said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF), and natural gas under the GST regime.
She said the law prescribes that the GST Council shall recommend the date on which the goods and services tax be levied on petroleum crude, high-speed diesel, motor spirit, natural gas, and ATF. “So far, the GST Council, in which the states are also represented, has not made any recommendation for inclusion of these goods under GST,” She said.
The Council may consider the issue of inclusion of these five petroleum products at a time it considers appropriate keeping in view all the relevant factors, including revenue implication, she added.
Source: The Financial Express