Not possible to bring petrol, diesel in GST regime even for next 8-10 yrs: Sushil Modi – News 24-7 Live News 24-7 Live
Not possible to bring petrol, diesel in GST regime even for next 8-10 yrs: Sushil Modi

Not possible to bring petrol, diesel in GST regime even for next 8-10 yrs: Sushil Modi

Finance Minister Nirmala Sitharaman had on Tuesday said in Lok Sabha that she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council.

Bringing petrol and diesel under the GST regime is not possible for the next 8-10 years as no state is ready to face the annual revenue loss of over ₹ 2 lakh crore on this account, BJP member Sushil Kumar Modi said in Rajya Sabha on Wednesday.

Speaking in support of the Finance Bill, the former finance minister of Bihar dared the opposition to raise the matter in the GST Council, saying no chief minister or finance minister from non-NDA ruled states has opposed any decision of the GST Council.

The Centre and states collectively collect over ₹ 5 lakh crore tax on petroleum products, Mr. Modi said. The statement assumes significance in view of the outcry over the rise in petrol price for the past over one year that touched ₹ 100 per litre in some states and the demand by the Congress and some other parties that petrol and diesel be brought under the GST regime.

Finance Minister Nirmala Sitharaman had on Tuesday said in Lok Sabha that she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council.

News Source:- The Hindu

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