April 14, 2021

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Bringing petroleum merchandise beneath GST might be good transfer: Chief financial advisor

Bringing petroleum products under GST will be good move:
Picture Supply : AP

Bringing petroleum merchandise beneath GST might be good transfer: Chief financial advisor

Chief Financial Advisor Okay V Subramanian has backed a proposal to deliver petroleum merchandise beneath the ambit of the Items and Companies Tax (GST). He, nonetheless, stated the choice must be taken by the GST council.

“It is going to be a very good transfer, however the determination rests with the GST Council,” Subramanian stated throughout a latest interplay with FICCI FLO members.

Petroleum Minister Dharmendra Pradhan had additionally urged Union Finance Minister Nirmalya Sitharaman to deliver petroleum merchandise beneath the ambit of the GST.

Steady rise in gas costs has burdened the widespread man and develop into a political concern in states the place meeting elections are due.

Subramanian additionally stated inflationary pressures are totally on account of “meals inflation”.

ALSO READ: Want coordinated motion between centre, states on tax discount in gas costs: RBI Governor

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