Sales of petroleum products, including petrol and diesel, are said to be subject to the Goods and Services Tax.
The issue is expected to be discussed at the GST Council meeting on Friday, chaired by Finance Minister Nirmala Sitharaman.
Discussions have already arisen several times that petroleum products should be brought under GST. Meanwhile, some states and union territories have raised objections as this will reduce their revenue.
In this situation, the price of petroleum products continues to rise Petroleum product The government is said to be planning to bring weeds under GST.
It has been reported that if petroleum products are introduced under the GST, there will be a large change in consumption prices and government revenue. Petroleum products are currently sold at each price in each state due to federal taxes and state taxes. In addition, the tax is only more than half the price of petroleum products.
But it will be sold at the same price across the country after being brought under GST. The tax rate will also be regulated. This is expected to significantly reduce consumer prices.