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Arun Jaitley supports GST for petroleum products
Highlights
Former finance minister P Chidambaram on Tuesday raised the issue of not bringing petroleum under the Goods and Services Tax (GST) regime in the Rajya Sabha.
Former finance minister P Chidambaram on Tuesday raised the issue of not bringing petroleum under the Goods and Services Tax (GST) regime in the Rajya Sabha.
He questioned as to when the petroleum products such as petrol, diesel and LPG (cooking gas) will be brought under the GST net particularly with BJP in power in 19 states.
Responding to the same, Union Finance Minister Arun Jaitley supported the idea and hoped for the consensus of the states.
Bihar Finance Minister Sushil Modi too hinted towards GST Council considering bringing electricity, petroleum products and few other items under GST in future.
Currently, the GST regime has five tax slabs - 0, 5, 12, 18 and 28 percent with an additional GST cess levied on certain products.
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