New Delhi: The Finance Ministry said in the Upper House of Parliament today that the GST Council has not yet made any recommendation to bring petrol and diesel under the ambit of GST. The Finance Ministry has clearly stated that the excise duty on petroleum is used for infrastructure and development works. This decision has been taken keeping in view the current financial situation.
Earlier on Monday, Petroleum and Natural Gas Minister Rameshwar Teli in the Lok Sabha said that the GST Council has not yet recommended the inclusion of oil and gas in the purview of GST. Therefore, petroleum will now be kept out of the purview of GST. He has informed the Parliament about this in writing. Rameshwar Teli has also informed the Lok Sabha about the income from excise duty on petrol and diesel.
Infy 2020-21 Central government tax on petrol and diesel has increased by 88 percent to 3.35 lakh crore. Excise duty on petrol has been increased from Rs 19.98 to Rs 32.90. Import duty on diesel has been increased from Rs 15.83 to Rs 31.80.