TIL Desk/Business/Bhubaneswar/ Union oil minister Dharmendra Pradhan has voiced optimism that petroleum products will be brought under the GST purview that will help in checking volatility in fuel prices. “In the long run, petroleum products are bound to be included within the ambit of the GST regime … It is only a matter of time. It will immensely help in containing prices of petrol and diesel,” Pradhan told.
He, however, declined to specify any timeline on bringing petroleum products under the Goods and Services Tax (GST). The states, he said, appear to be unwilling to include petro items within the GST ambit as they are deriving major financial benefits in the existing arrangement.
The inclusion of petrol and diesel in the GST regime would bring uniformity in taxation, he said, adding the GST council is working in this direction. Taxes are one of the main factors behind rising fuel prices in the country, he said, adding bringing petroleum products under the GST regime can be a long-term measure to tackle the problem and the Centre is working out a holistic strategy to address it.
