Should the petroleum products be taxed under GST?

Tax on fuel in India is very high(according to me). Central government and state governments impose more 50% tax on fuel/petroleum products. Petroleum products are one of the important needs in present scenario. read more

NEW DELHI: Petroleum products, including crude and some intermediate products, could be taxed under the proposed goods and services tax , a move that will reduce the imperfections in the new levy and also narrow the inflationary impact of the tax. read more

"If the petroleum products are taxed at a GST rate which is equivalent to the input GST cost, the cascading of taxes would be mitigated and the final price of the products may reduce," Bipin Sapra, partner, EY, told ET. read more

True, the GST Council, the body of Union and state finance ministers, is to decide the date for bringing petroleum products under GST. But as of now, petroleum crude, natural gas, diesel and petrol are all out of the GST framework. read more