Petrol, diesel to be under GST soon, says Dharmendra Pradhan

Oil prices are on the decline over last few days during which it has come down by one rupee aggregately

With petrol and diesel kept out of the purview of GST, the state owned oil industry is losing Rs 200 billion annually in terms of input credit, Union Minister Dharmendra Pradhan said on Thursday.

However, he said, with the GST regime stabilising and apprehensions over GST collection gradually receding, “it is a matter of time that petrol and diesel are brought under GST”.

“Refinery, pipeline, exploration… all are under GST. I am not getting back that money, the input credit. So, I am making it costly. I am losing Rs 200 billion per annum, only by government companies, in input