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November 17, 2022

Petroleum Minister Hardeep Singh Puri says the government is prepared to introduce fuel under the GST

by Admin in GST

Petroleum Minister Hardeep Singh Puri says the government is prepared to introduce fuel under the GST

The Centre is prepared to bring petrol and diesel under the GST regime, but it is unlikely that the states will agree to such a move, petroleum and natural gas minister Hardeep Singh Puri said on Monday. “If the states make the move, we are ready.” We have been ready all along. That’s my understanding. It is another issue as to how to implement it. “That question should be addressed to the states,” Puri said.

However, the minister noted that it is unlikely that the states will approve of such a move because liquor and energy are sources of revenue for them.

“It is simple to understand that states receive funding.” Why would someone who is making money leave it? Energy and alcohol are two sources of income. Only the central government, he continued, is concerned about inflation and other issues. The Kerala High Court had suggested, according to the Union Minister, that the issue be brought up for discussion in the Goods and Services Tax Council’s most recent meeting in Lucknow.

The finance minister of that state did not agree. “As far as GST is concerned, your wishes and mine apart, we are in a cooperative federal system,” he said. Asked if the people can expect some respite in terms of fuel prices, the minister said India’s Central Government has seen one of the lowest increases in these prices in the past, which was one year.

“I am surprised by your question. On a lighter note, people are asking me when the prices will rise again. In North America, fuel prices went up by 43 percent in one year, but in India they went up by only 2 percent. If there is a bright spot anywhere in the world, it’s India. It’s not me saying it; it’s Morgan Stanley. “It’s the managing director of the IMF saying this,” Puri said as per the news reported in various news paper and media agencies.

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