Sushil Modi rules out bringing petrol, diesel under GST

Last Updated: Fri, Jun 29, 2018 17:43 hrs
GST (Reuters image)

New Delhi: GST Council Member and Bihar Deputy Chief Minister Sushil Modi on Friday outright ruled out bringing petroleum products under the ambit of Goods and Services Tax (GST) in near future, citing loss of revenue both to central and state governments.

He added there was no consensus in the GST Council on the issue yet and if such a decision was effected in a hurry, both the Central and the state governments would incur huge revenue losses.

Modi, the Bihar Finance Minister, added that even if petroleum products are brought under GST, there is no guarantee that they would attract a tax rate within 28 per cent and states may levy additional taxes for want of more revenue.

His statement comes days after NITI Aayog Vice Chairman Rajiv Kumar told IANS in an interview that petrol and diesel can't be brought under GST any time soon since the total state and Central taxes on petrol put together are around 90 per cent right now.

He had said that no state will be willing to take a cut so huge and opening a new slab under GST would be an enormous exercise.

However, Modi said the Council could positively consider bringing in natural gas and aviation turbine fuel within the purview of GST.

Addressing a National Conclave on "GST - Growing Stronger Together" here, he said the GST slab of 28 per cent for certain products could be brought down only once the revenues stabilize at about Rs one lakh crore per month, a statement said.

The average monthly collection under GST stood at Rs 89,885 crore during 2017-18.

"Similarly, a three slab GST could also be possible at any rate between 12 per cent and 18 per cent once the monthly revenue collections move towards stability which will take time," he added.


State Capitals (Applicable from 6:00 a.m. on 29-06-2018) Petrol Current Price(Per Lt) Petrol Previous Price(Per Lt) Change(Rs)
Petrol price in DelhiRs.75.55 Rs.75.55 0.00
Petrol price in KolkataRs.78.23 Rs.78.23 0.00
Petrol price in MumbaiRs.83.12 Rs.83.12 0.00
Petrol price in ChennaiRs.78.40 Rs.78.40 0.00
Petrol price in FaridabadRs.76.33 Rs.76.33 0.00
Petrol price in GurgaonRs.76.09 Rs.76.09 0.00
Petrol price in NoidaRs.76.61 Rs.76.61 0.00
Petrol price in GhaziabadRs.76.49 Rs.76.49 0.00
Petrol price in AgartalaRs.71.46 Rs.71.46 0.00
Petrol price in AizwalRs.71.57 Rs.71.57 0.00
Petrol price in AmbalaRs.75.67 Rs.75.67 0.00
Petrol price in BangaloreRs.76.77 Rs.76.77 0.00
Petrol price in BhopalRs.81.14 Rs.81.14 0.00
Petrol price in BhubhaneswarRs.74.38 Rs.74.38 0.00
Petrol price in ChandigarhRs.72.66 Rs.72.66 0.00
Petrol price in DehradunRs.77.07 Rs.77.07 0.00
Petrol price in GandhinagarRs.74.87 Rs.74.87 0.00
Petrol price in GangtokRs.78.65 Rs.78.65 0.00
Petrol price in GuwahatiRs.77.66 Rs.77.66 0.00
Petrol price in HyderabadRs.80.03 Rs.80.03 0.00
Petrol price in ImphalRs.73.65 Rs.73.65 0.00
Petrol price in ItanagarRs.71.51 Rs.71.51 0.00
Petrol price in JaipurRs.78.27 Rs.78.27 0.00
Petrol price in JammuRs.77.30 Rs.77.30 0.00
Petrol price in JullunderRs.80.73 Rs.80.73 0.00
Petrol price in KohimaRs.74.07 Rs.74.07 0.00
Petrol price in LucknowRs.76.56 Rs.76.56 0.00
Petrol price in PanjimRs.69.62 Rs.69.62 0.00
Petrol price in PatnaRs.81.04 Rs.81.04 0.00
Petrol price in PondicherryRs.74.37 Rs.74.37 0.00
Petrol price in Port BlairRs.65.16 Rs.65.16 0.00
Petrol price in RaipurRs.75.97 Rs.75.97 0.00
Petrol price in RanchiRs.75.72 Rs.75.72 0.00
Petrol price in ShillongRs.75.01 Rs.75.01 0.00
Petrol price in ShimlaRs.75.73 Rs.75.73 0.00
Petrol price in SrinagarRs.79.99 Rs.79.99 0.00
Petrol price in TrivandrumRs.78.63 Rs.78.63 0.00
Petrol price in SilvasaRs.73.50 Rs.73.50 0.00
Petrol price in DamanRs.73.43 Rs.73.43 0.00



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