Ahead of GST Council meet, fitment committee may convene to assess proposals on ATF, natural gas

The GST fitment committee to likely to convene ahead of the GST Council meet scheduled for June 22, with the agenda to study Oil Ministry's proposal to bring ATF and Natural Gas under the ambit of GST, sources told CNBC-TV18.

People familiar with the development said that committee may also issue clarification on claiming Input Tax Credit (ITC) as well as on rationalisation of rates. The fitment committee could study the prospects of bringing ATF under 5 percent GST slab, and will also assess Oil Ministry's proposal to tax Natural Gas under 12 or 18 percent tax slab, it is learnt.

Sources had told Moneycontrol earlier this month, requesting anonymity, that any rationalisation of the current four GST slabs may not happen soon due to its potential negative impact on lower-income groups.

The 53rd GST Council, which convenes on June 22, could issue clarification on a number of items that have been talking points for past few months, such as foreign airlines and shipping lines under DGGI scanner, as well as ITC on telecom services and spectrum, sources told the network.

Source : https://www.moneycontrol.com/news/business/gst-fitment-committee-council-meet-12747358.html