Govt working to include petroleum products under GST, says Finance Minister Arun Jaitley

Union Finance Minister?Arun Jaitley?on Tuesday said the government is in favour of bringing petroleum products under the ambit of the Goods and Services Tax (GST), however, they are waiting for a consensus from the state governments in this respect.

Jaitley was replying to a question, raised by Telugu Desam party MP Devendra Goud during the Question Hour in the Rajya Sabha, as to when the government would bring petroleum under the GST.? ?The constitution amendment which has been passed and ratified by state assemblies have kept petroleum and petroleum products as part of the GST, but a decision to levy the GST on petroleum can be taken only after the?GST council takes a decision. We don?t need to amend any law if petroleum products are to be brought into the GST, but only after the council takes a decision is when it will be introduced,? Jaitley said.

Reacting to the response, former finance minister P Chidambaram asked when will the government clarify its position on the matter and the council will decide on it.

Hitting back at the UPA, Jaitley said the UPA government ?very cleverly? kept petroleum out of the GST draft document knowing that it will be a ?deal breaker? with the state government.??It was the NDA government which persuaded the state governments to keep those products under GST on one condition that it?s only when the states decided and agree upon it that the council will have the power to bring petroleum under GST.?

The minister said the government was hopeful that a consensus will be reached among the states to bring petroleum under GST