GST And VAT on petrol, diesel

Govt Planning to charge Both GST And VAT on petrol, diesel

It is being said from long time by government to bring gasoline and diesel under GST. It is being said that if petrol and diesel comes under GST, then it can get great relief to the common people.

Effect of GST Over Petrol Products

But if a government official said it will not be so. A senior government official said that if petrol and diesel be under GST, then it will be charged 28 percent GST with sales tax as  a part of Value Added Tax(VAT).

According to official sources after imposing 28 percent GST and VAT on petrol, diesel will be equal to the current tax. Currently, the central government charges excise duty and state VAT.

Government official associated with the implementation of GST also  said that pure GST is not available nowhere in the world. So, in India too, charge Both GST And VAT on petrol, diesel.

“The petrol and diesel are taken under GST, it will be decided at full political level. For this, the central and the states will have to make a decision” He Added.

Current Senario over Petro Products

Currently petrol, diesel, natural gas and crude oil have been kept out of GST. This gives the government the benefit of input tax credit of 20 thousand crore rupees.

In this case, before bringing the gasoline and diesel into the realm of GST, the central government has to be prepared to give up this huge amount, only then will it be possible.

Explain that at present, the Central Government imposes Rs 19.48 per liter on petrol and 15.33 rupees per liter excise duty on diesel. Apart from this, the state also imposes VAT.

E-Way Bill Related Demo available on over portal soon.

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