Consensus Needed for GST on Fuels
OIL & GAS

Consensus Needed for GST on Fuels

Union Minister Hardeep Singh Puri has emphasized the necessity of building a consensus among states to bring petrol and diesel under the Goods and Services Tax (GST) regime. Currently, fuel prices are subject to various state taxes, which contributes to discrepancies in pricing across different regions. By moving towards a unified GST framework for fuels, the government aims to create a more stable pricing mechanism and alleviate the burden on consumers.

Puri highlighted the importance of dialogue among state governments to address concerns related to revenue loss that may arise from such a transition. He reassured stakeholders that the central government is committed to ensuring that states do not suffer financially during this process. The inclusion of petrol and diesel under GST is viewed as a significant step towards simplifying the tax structure and enhancing transparency in the oil and gas sector.

This move could lead to more equitable pricing, benefiting consumers and contributing to the overall economic stability of the country. As discussions continue, the government seeks to foster collaboration between various stakeholders, aiming for a smooth transition towards a comprehensive GST framework that includes essential commodities like fuel.

Union Minister Hardeep Singh Puri has emphasized the necessity of building a consensus among states to bring petrol and diesel under the Goods and Services Tax (GST) regime. Currently, fuel prices are subject to various state taxes, which contributes to discrepancies in pricing across different regions. By moving towards a unified GST framework for fuels, the government aims to create a more stable pricing mechanism and alleviate the burden on consumers. Puri highlighted the importance of dialogue among state governments to address concerns related to revenue loss that may arise from such a transition. He reassured stakeholders that the central government is committed to ensuring that states do not suffer financially during this process. The inclusion of petrol and diesel under GST is viewed as a significant step towards simplifying the tax structure and enhancing transparency in the oil and gas sector. This move could lead to more equitable pricing, benefiting consumers and contributing to the overall economic stability of the country. As discussions continue, the government seeks to foster collaboration between various stakeholders, aiming for a smooth transition towards a comprehensive GST framework that includes essential commodities like fuel.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?