Why petroleum products cannot be brought under the GST regime
Petrol and diesel under the GST —–--- The CBIC counsel submitted that the petroleum products could not be brought under the GST regime. The matter was taken in the 45th GST Council meeting, three issues seemed to have been considered by the Council, for bringing the petroleum products under the GST regime, i.e., (i) the matter involves high revenue implications, (ii) requires larger deliberations and (iii) during pandemic times, it would be difficult to bring petroleum products under GST regime. The court observed that they are not satisfied with the reasons. There should be some discussion and genuine reasons, as to why petroleum products cannot be brought under the GST regime.
Held that:- The Hon’ble High Court directed the Standing Counsel for the CBIC to file a detailed statement with reference to the observations made and posted the matter in the second week of December, 2021.
Why petroleum products cannot be brought under the GST regime
Petrol and diesel under the GST —–--- The CBIC counsel submitted that the petroleum products could not be brought under the GST regime. The matter was taken in the 45th GST Council meeting, three issues seemed to have been considered by the Council, for bringing the petroleum products under the GST regime, i.e., (i) the matter involves high revenue implications, (ii) requires larger deliberations and (iii) during pandemic times, it would be difficult to bring petroleum products under GST regime. The court observed that they are not satisfied with the reasons. There should be some discussion and genuine reasons, as to why petroleum products cannot be brought under the GST regime.
Held that:- The Hon’ble High Court directed the Standing Counsel for the CBIC to file a detailed statement with reference to the observations made and posted the matter in the second week of December, 2021.