Chief Economic Advisor KV Subramanian Bats For Inclusion Of Petroleum Products Under GST

Chief Economic Advisor (CEA) to the Government KV Subramanian has come out in support of a proposal suggesting the inclusion of petroleum products under the Goods and Services Tax (GST) regime, reports Economic Times.

While acknowledging that the decision on the subject will have to be taken up by the GST council, Subramanian emphasised that it would be a "good move". Subramanian made the assertion during a recent interaction with industry body FICCI's FLO members.

Subramanian's assertion in favour of the inclusion of petroleum products under GST comes just days after Union Petroleum Minister Dharmendra Pradhan had also urged Finance Minister Nirmala Sitharaman to do the same.

The suggestions in this regard come at a time when fuel prices in the nation have been rising in a sustained fashion over the past weeks.

Presently, petroleum products like petrol, diesel, natural gas and aviation turbine fuel et cetera are not a part of the GST architecture, unlike most other goods and services.