Petroleum minister Dharmendra Pradhan on Monday said his ministry will push for inclusion of all petroleum products under the ambit of Goods and Services Tax (GST).
“Some states have concerns about losing on sales tax (revenue), but I think they will be the beneficiaries,” Pradhan said at the contract-signing ceremony of the awarded discovered small hydrocarbon fields (DSFs).
He emphasised that the industry needs to create an environment to push towards GST. He emphasised that the industry needs to create an environment to push towards GST.
At present, crude oil, natural gas, ATF, diesel and petrol are not in the purview of GST which seeks to have a one-nation-one-tax regime across the country. These items are, however, not constitutionally excluded from the GST which means that the GST Council can bring them at any time without an amendment to the Constitution.
Talking about the benefits of the DSF blocks, Pradhan expressed hope that these will raise India’s hydrocarbon output and achieve the target to reduce energy imports.