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GST Council Secretariat suggests Council consider possibility of including petroleum products

  • 14 Sep, 2021
  • Garima
  • 17

The Goods and Services Tax (GST) Council Secretariat has suggested the Council look into the possibility of bringing petroleum products and aviation turbine fuel (ATF) under the ambit of GST, sources told CNBC-TV18 on Monday.

The Secretariat has suggested the GST Council deliberate and make recommendations to include petroleum products and ATF under GST, sources said days before the Council set to meet on September 17 for the first physical meet since the outbreak of the COVID-19 pandemic. However, no formal proposal has been recommended for the inclusion of petrol products for the GST Council meeting later this month.

The Secretariat’s move comes after it took note of a recent observation by the Kerala High Court on the issue of inclusion of petrol and diesel under GST. The high court had on June 21 asked the GST Council to consider a representation that seeks to bring petrol and diesel under the GST regime, and take an appropriate decision in six weeks.

Sources also said that the GST Council will extend concessions on specified drugs used in COVID-19 treatment till December 31. It had earlier recommended GST rate reduction till September 30, 2021,on certain items used in COVID treatment along with the four medicines.

The Council is likely to consider extending relief by reducing GST rates from 12 percent to 5 percent till December 31 on drugs including Itolizumab, Posaconazole, Infliximab, Bamlanivimab & Etesevimab, Casirivimab & Imdevimab, 2-Deoxy-D-Glucose, and Favipiravir.

Source- https://www.cnbctv18.com/economy/gst-council-secretariat-suggests-council-consider-possibility-of-including-petroleum-products-10718731.htm