10 Feb 2021 10:20

Joined:	12/05/2008
Level:	Diamond
Points:	35004

Points:	5

Why the BJP Government has not put petroleum products under GST?

Petrol, diesel, and gas prices are rising day by day. The price of petrol in Kerala is at Rs 87.76 per litre today. In New Delhi, it is Rs 87.30 per litre, Rs 88.63 per litre in Kolkata, Rs 93.83 per litre in Mumbai and Rs 89.70 per litre in Chennai. Will the petrol price reach Rs100?

If petroleum products are included in the Goods and Services Tax (GST), will it not be possible to reduce petrol prices? Why the BJP Government has not put petroleum products under GST?

What is your opinion about the inclusion of petroleum products in Goods and Services Tax (GST)?

#722909

10 Feb 2021 11:22

Joined:	12/10/2009
Level:	Platinum
Points:	236769

Points:	4

It was the Congress which demanded that the oil pricing be de.tached from the govt clutches and thus the Modi govt has given sweeping powers to oil companies to decide pricing based on crude oil prices of international market. Though we are feeling the pinch of price hike now and then the state govts should reduce their share of taxes so that the loss can be compensated. But the state govts does not want to loose their money and thus the central govt is blamed for every fuel price hike. Let their be debated once again and bring the oil prices under GST and central control.

K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#722914

10 Feb 2021 11:52

Joined:	02/06/2009
Level:	Platinum
Points:	103529

Points:	5

The amount we are paying as taxes on petroleum products is very high than the cost of the product. I read somewhere that the actual price of the product is about 36 rupees per litre. Whatever amount we are paying above that price is for taxes only. There are taxes on petroleum product both from Central Government as well as the State Governments. The share of taxes to States is very high when compared to the central taxes. That is the reason the prices of these products are not uniform throughout the country. The price of petrol is almost Rs.5/- per litre more in Andhra Pradesh than that of Telangana. This is mainly due to the taxes imposed by the State government.
If these products are to be brought under GST, a new slab is to be brought and it will be almost 200% slab. By doing so we all will know how much money is going to the government in the form of taxes in these transactions. That may be the reason these products are not brought under GST.

drrao
always confident

#722923

10 Feb 2021 14:13

Joined:	12/10/2009
Level:	Platinum
Points:	236769

Points:	2

If the Petroleum products under GST means the center has to shell fifty percent of the tax thus collected and many states have been collecting huge taxes as levy and thus GST not possible.

K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#722926

10 Feb 2021 14:49

Joined:	27/09/2019
Level:	Diamond
Points:	14481

Points:	2

I have heard if GST is implemented then the maximum price of oil will not go beyond Rs 55/-
When the oil price goes up price of almost all commodities also go up. It will be appreciated if the government implement GST on gas and petroleum also.

#722930

10 Feb 2021 15:40

Joined:	12/05/2008
Level:	Diamond
Points:	35004

Points:	1

When the price of petrol and diesel reaches Rs 100, there is no system to display it at the pumps.
Preparations have already begun in many pumps to display the prices in three digits.

Lighted to Lighten

#722934

10 Feb 2021 16:15

Joined:	20/01/2017
Level:	Diamond
Points:	22341

Points:	3

There must be some reasons as why the petrol and diesel were not included in the GST list and were kept outside its purview. Govt can again review this decision and can bring changes in the GST rules so that petrol and diesel prices are governed in the GST regime in the same way as other items are being taxed and monitored. If by bringing it under GST the price will decrease then it is high time that Govt review that.

Thoughts exchanged is knowledge gained.

#722950

10 Feb 2021 20:17

Joined:	13/08/2010
Level:	Diamond
Points:	14654

Points:	3

Petroleum products are not put under GST for the simple reason of not to lose the revenue earned by the Government as excise duty. The Government of India earned Rs 2,40,000/ crores in the financial year 2019- 2020. The excise duty charged by the Central Government is Rs 32.98/ lt on petrol. It is nearly 125% of the base value of petrol. In Delhi, the State Government charges Rs 19/ lt as VAT, which is 72%of the base value of petrol. The other component is the dealer's commission of Rs 3.67/lt.

" Be Good and Do Good "

#722952

10 Feb 2021 20:31

Joined:	24/03/2011
Level:	Platinum
Points:	56413

Points:	4

Diesel and Petrol are considered as luxury item. Diesel and petrol are used by commercial vehicles for making money. All the goods vehicles are running on diesel. So it won't affect the owners of the goods vehicle owners. They can hike the hire charges according to the increase in diesel rates. The sufferer is the petrol vehicle users who have to shell out their petrol charges from their set income.

What I sincerely suggest is - Let the diesel price go up to any height, but don't let the petrol and gas price go up, and fix one standard rate for petrol and gas with GST.

All private vehicles (cars) should be of petrol. Petrol vehicles are less polluted than diesel.

No life without Sun

#722956

10 Feb 2021 21:44

Joined:	12/10/2009
Level:	Platinum
Points:	236769

Points:	2

Sooner the the petrol pumps need to change their calibration of vending machines as they can display up to 99.99 rupees and 100 cannot be displayed due to technical error.

K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#723024

11 Feb 2021 22:07

Joined:	19/06/2011
Level:	Diamond
Points:	79666

Points:	2

The state government have not agreed to bring oil and liquor under GST. As GST is formed under consensus, these two items did not have consensus and so kept out of purview of the GST list. So now both centre and states can increase or decrease taxes on these two heads.

Why the BJP Government has not put petroleum products under GST?

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