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News> Policies

Panel Likely to Discuss Bringing Natural Gas Under GST



The GST Council will propose bringing natural gas within the purview of Goods and Services Tax in its next meeting, according to Joint Secretary, GST Council, Mr. Dheeraj Rastogi.

Speaking at a workshop on ‘Levy of GST, supply, goods, services and time and place of supply – Analysis and open issues’ organised by the PHD Chamber of Commerce and Industry in New Delhi recently, Mr. Rastogi said the inclusion of natural gas under GST will be one of the important points for deliberations for all State Finance Ministers.

According to a PHD statement, Mr. Rastogi said, “Petroleum is a considerably larger source of revenue not only for the Centre but also the States, and on natural gas front, there is some consensus for bringing it within the GST ambit and therefore, it could be the first petroleum product that could come in well within the GST network.”

Mr. Rastogi also said that aviation turbine fuel (ATF) would be another petroleum product that could be brought within the GST ambit. But he did not prescribe a timeframe or probable GST rate for these products.

Source: Chemical Weekly
Disclaimer: Echemi reserves the right of final explanation and revision for all the information.

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