Will petrol and diesel come under GST? Here is what Finance Ministry said
Zee News
Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
New Delhi: The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.
Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
The change in duties takes into account relevant factors such as international product prices, exchange rate, tax structure, inflation and keeping in view the prevailing fiscal situation, the minister said.
