Centre Mulls Bringing Petrol & Diesel Under GST Ambit

On Friday next the GST council will hold a meeting and expected to discuss the matter.

The GST Council, headed by union finance minister Nirmala Sitharaman, will examine the proposal after the Kerala High Court asked for the matter to be taken up.

Approval of three to fourths panel is necessary to made any changed to the GST system.

The decision comes at a time when the price of fuel has hit the consumers.

It is expected that the price of petrol and diesel would be reduced after it will come under the ambit of GST.

Oil marketing companies (OMC) on Saturday continued to press the pause button on the revision of retail petrol and diesel prices for the sixth straight day. In the national capital, petrol was sold for Rs 101.19 per litre on Saturday. Similarly, price of the fuel in the other key metros of Mumbai, Chennai and Kolkata stood unchanged at Rs 107.26, Rs 98.96, Rs 101.62 per litre, respectively. In tandem with petrol price, diesel rates also remained unchanged.

In Delhi, Mumbai, Chennai and Kolkata, the fuel was sold for Rs 88.62, Rs 96.19, Rs 93.26 and Rs 91.71 per litre, respectively. Retail prices remained unchanged as global oil prices continued to rise. The benchmark Brent futures are currently near the $73-per-barrel-mark backed by the continued supply concerns in the US post Hurricane Ida. Across the country as well, petrol and diesel prices remained static on Saturday, but their retail rates varied depending on the level of local taxes in a particular state.

Also Read: OMCs continue to hold fuel price revision

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