Union Minister Dharmendra Pradhan Appeals To Bring Petroleum To GST

IANS | 0
| April 3 , 2018 , 12:45 IST

Petroleum products should be brought under GST so that consumers can get the benefit of price rationalisation, Union Minister Dharmendra Pradhan said on Monday, a day after transport fuel prices in Delhi hit record highs, even as cleaner Euro-VI grade petrol and diesel supply began here.

"On prices, we have nothing to hide... petrol, diesel are international commodities and whenever there is a hike or fall in global rates we pass it on to the consumers," Pradhan said, noting that prices change on a daily basis under dynamic pricing.

"In this regard, I appeal again to the GST Council, finally this product has to come under GST (Goods and Services Tax) so that the consumer can benefit from price rationalisation," he said in a reference to states not being in favour of including petroleum in the new indirect tax regime for fear of losing excise revenue.

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The price of petrol in Delhi on Monday was at Rs 73.83 a litre, which marks a four-year high, while diesel was at an all-time high of Rs 64.69.

State-run IndianOil Corp (IOC) Chairman Sanjiv Singh said though massive investments had been made to supply the improved BS VI fuel, Delhi consumers are not being passed on any of the additional cost of production for the time being.

He said a mechanism for recovering the cost would be worked out when the entire country shifts to Euro-VI grade fuel. The April 2020 deadline for the country to implement BS-VI grade fuels had been advanced for Delhi to April 1, 2018, in view of the extremely high levels of air pollution.