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Union Finance Minister Nirmala Sitharaman has clarified that petroleum products and alcohol are unlikely to be brought under the ambit of the GST in the immediate future. Speaking in an interview, she said, "The current proposal does not include it. Not in the immediate future." When GST was rolled
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FAQ :
Union Finance Minister Nirmala Sitharaman has indicated that petrol, diesel, and alcohol are unlikely to be brought under the GST ambit in the immediate future.
When GST was rolled out in July 2017, these products were deliberately kept out as they are significant revenue streams for the Centre and states through excise duty and VAT.
States have consistently opposed their inclusion in GST, fearing a significant erosion of their fiscal autonomy and potential revenue loss.
The continued separate taxation of petrol, diesel, and alcohol, outside the GST framework, contributes to their persistently high retail prices.
The 56th GST Council meeting approved significant rate cuts on items like shampoo, hair oil, automobiles, and electronic goods, set to take effect from September 22.
Experts believe that the eventual inclusion of petrol, diesel, and alcohol in GST will require a strong consensus between the Centre and states, with fiscal stability and state revenues currently taking precedence.
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