Council may look at including natural gas in GST

The GST Council may consider inclusion of natural gas within its purview in its next meeting, but a discussion on petrol and diesel may have to wait, a senior official said on Friday.

“On the natural gas front, there is some consensus for bringing it into the GST ambit and therefore, it could be first petroleum product that could come in well within the GST network”, Dheeraj Rastogi, Joint Secretary of the GST Council, said at an industry event here.

He, however, said that petroleum is considerably a larger source for revenues not only for the Centre, but also states. But acting Finance Minister Piyush Goyal had late last month said that the council will discuss the feasibility of bringing the two transport fuels in the GST ambit in order to curb steep rise in their prices.

Senior GST officials said on Friday that the issue is less likely to come up in the next meeting, as there is no consensus at all among states on bringing petrol and diesel under GST.

“States believe that petrol and diesel under GST will be a revenue setback for them,” the official said on condition of anonymity.

Rastogi said that ATF would be another petroleum product that could be brought within the GST ambit, among five leading petroleum products. The official did not prescribe a specific time-frame for that.

Addressing a workshop on GST by PHD Chamber of Commerce and Industry, Rastogi also indicated the government’s intentions for revision in definition of “supply” under GST as industry and trade are pressing for re-definition of supplies on account of certain confusion.

On advance ruling issue, the Joint Secretary said that a policy decision is likely on setting up centralised advance ruling authorities to address relevant issues relating to GST, rather than keeping redressal of such issues confined to one particular state advance ruling authority.

 

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Council may look at including natural gas in GST

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