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Bring petro products under GST: Oil minister Pradhan
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has said that petroleum products should also be included under the GST mechanism. “We have to have a rational tax management. Both the state and Union governments must come to this consensus that petroleum products must come under the GST mechanism,” he said.
Hyderabad: Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has said that petroleum products should also be included under the GST mechanism. “We have to have a rational tax management. Both the state and Union governments must come to this consensus that petroleum products must come under the GST mechanism,” he said.
Pradhan has also requested the Union Finance Minister Arun Jaitley to bring petroleum products under the ambit of Goods and Services Tax (GST) in the interest of consumers.
Justifying the move, Pradhan said there should be a ‘uniform tax mechanism’ all over the country. “Ministry of Petroleum is proposing to bring petroleum products under GST. We have already appealed to all the states and union finance ministry to bring petroleum items under GST. Considering the consumer interest, there must be tax rationalisation.
GST is a well thought mechanism by the Centre and the states, they developed the GST Council. There are two kinds of taxes (on petroleum products). One is the central excise and the other one is state VAT.
That is the reason, we are expecting uniform tax mechanism from the industry point of view.” Justifying the daily price mechanism, which is in place for petrol and diesel, Pradhan said “out of total taxes collected by the Centre, states are getting 42 per cent share.
International prices determine domestic rates. There is no communication gap or mismatch (between domestic and global prices). Whatever is the international price, we’re passing exactly that to the Indian consumer. When it is increasing, we have to increase, when it is declining we have to decrease it. That is the practice in the country.”
The minister for petroleum and natural gas said, “42 per cent of the central tax is coming to states. And states have their own tax mechanism. So, a substantial portion of tax collection is utilised and coming to the states.” He said the Centre needs funds for implementing various development and welfare projects in the country.
“Don’t you think we should build good roads. Don’t you think we should give clean drinking water to citizens. See the spending of the Government of India. Previously, for the housing scheme (for the poor), the government was spending Rs 70,000 per unit. Now we are spending Rs 1.5 lakh.
“Where do you get the money from? Do you think (we) have kept the money in the treasury. We are passing the money for the greater recycling of the economy through infrastructure projects. The second round of auction of oil and natural gas blocks received a good response from both international and domestic players.”
