Petrol Diesel Under GST: As soon as the government was formed, the Petroleum Minister said this big thing, will petrol and diesel really come under the purview of GST?

As soon as Modi 3.0 was formed, Petroleum Minister Hardeep Singh Puri has made a big announcement. He says that this time the government will try its best to bring products like petrol-diesel and natural gas under the ambit of GST. Know what else Hardeep Singh Puri said...

After the Lok Sabha elections in the country, a new government 'Modi 3.0' has been formed under the leadership of Prime Minister Narendra Modi. Along with this, the division of ministries has also been done among 72 ministers. Hardeep Singh Puri has once again been given the responsibility of the Ministry of Petroleum and Natural Gas and as soon as he took charge, he has also made a big announcement.

Union Minister Hardeep Singh Puri says that this time the central government will try to bring goods like petrol-diesel and natural gas under the purview of Goods and Services Tax (GST). This will provide great relief to the common people.

Attempts have been made before

This effort to bring fuels like petrol and diesel under the ambit of GST is not new. Efforts have been made for this since the GST system came into effect and the subsequent formation of the GST Council. This matter has been put forward in almost every meeting of the GST Council. But consensus has not yet been reached among the states on this.

VAT on petrol and diesel is a major source of income for the state government. In such a situation, the state governments do not want to face a loss in their revenue due to petrol and diesel coming under GST. Apart from this, the states also get major income from tax on liquor.

However, Finance Minister Nirmala Sitharaman had said in November last year that customers will benefit the most by bringing petrol and diesel under the ambit of GST. At the same time, people will not have to pay different prices for it across the country.

Target of 20% ethanol mix

Along with talking about bringing petrol and diesel under the ambit of GST, Petroleum Minister Hardeep Singh Puri said that the government had set a target of mixing 20 percent ethanol in petrol by 2030, but now it is expected to be completed only by next year i.e. 2025. Along with this, he said that the government is not in favor of selling stake in PSUs of the petroleum sector.