Petroleum products will be soon under Goods and Services Tax : Union Minister
Union Minister Dharmendra Pradhan expressed hope that petroleum products will be soon brought under the ambit of Goods and Services Tax. “I appeal to the GST council that these products be included in the GST framework. Consumers should get the products on a rational price in the entire country,” the Union Minister of Petroleum & Natural Gas said.
Pradhan also maintained that fuel prices soar in the country when oil prices become high in the international market. “Petroleum products are international commodities. Whenever there is a price hike in crude oil, then there are some pinching prices in our market also. India is a consumer sensitive country, we are concerned and are on the job,” he added..
The union minister’s remarks came a day after petrol price hit a four-year high of Rs 73.73 a litre while diesel rates touched an all-time high of Rs 64.58 in the national capital. This renewed calls for the government to cut excise tax rates.