Council to discuss bringing natural gas under GST in next meeting
While petroleum products like kerosene, naphtha and LPG are under the ambit of GST, five items in the basket -- crude oil, natural gas, aviation fuel, diesel and petrol -- have been excluded during the initial years.business Updated: Jun 08, 2018 17:09 IST
The GST Council could consider bringing natural gas within the purview of the Goods and Services Tax in its next meeting, an official said on Friday.
GST Council joint secretary Dheeraj Rastogi said aviation turbine fuel (ATF) would be another petroleum product that could be brought within the GST ambit among five petroleum products.
The inclusion of natural gas within the GST framework on an experimental basis would be put before the GST Council in its forthcoming GST Council meeting, a PHD Chamber statement quoted Rastogi as saying.
He, however, did not prescribe a specific time frame for bringing natural gas and ATF within GST.
While petroleum products like kerosene, naphtha and LPG are under the ambit of GST, five items in the basket -- crude oil, natural gas, aviation fuel, diesel and petrol -- have been excluded during the initial years.
“Petroleum is a considerably larger source of revenues not only for centre but states also and on natural gas front, there is some consensus for bringing it into GST ambit and therefore, it could be first petroleum product that could come in well within GST network,” Rastogi said, according to a PHD Chamber release.
Addressing the workshop on GST, Rastogi also indicated government’s possible intentions for revision in definition of supply under GST.
First Published: Jun 08, 2018 16:32 IST