Bringing petrol, diesel under GST won’t reduce prices much, says Sushil Modi


Patna, May 27 (PTI): Bihar Deputy Chief Minister Sushil Kumar Modi on Saturday asserted that bringing petroleum products under the ambit of Goods and Services Tax (GST) will not have much impact in reducing its prices.

"It is a big misconception (among the people) that price of petroleum products will be reduced significantly if they are brought under GST ambit. Instead, the move will have minor impact in terms of reducing prices of petroleum products," Sushil Modi, who also heads the GST Network panel, told reporters.

"Under the GST regime, there is a practice across the world which empowers states to impose tax over and above the highest GST tax rate. This has been the practice followed everywhere in the world where GST has been implemented," Modi said. Modi was speaking to reporters in Patna after reviewing the 64th quarterly State Level Bankers Committee (SLBC) meeting.

Modi, who is also Bihar's Finance Minister, was replying to a query whether the government is contemplating bringing petroleum products under the GST regime. He said that the issue of whether or not to include petroleum products under GST will be decided by the GST Council.

"There is unanimity in the GST Council that petroleum products will not be brought under GST regime until it (the new GST regime) stabilises," Modi said.

  

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  • SHAAN RAMEEZ, K.C ROAD TALAPDY

    Wed, May 30 2018

    STILL PETROL DIESEL DAY BY DAY GOING HIKE .AND BJP GOVERMENT STILL SAYING ACHE DIN HE..PETROL KA PRICE HIKE KARNE KE LIYE UNKE PASS SCHEM HE LEKIN PRICE KAM KARNE KE LIYE SCHEM NHI HE..WHAT BULSHIT
    COMMENT SAYING BJP MANTRI..ACHE DIN WILL NEVER COME ..IT WILL GOING TO 100 RS PER LITR ..THIS IS SURE ..WORST GOVERMENT WORST BJP PARTY

    DisAgree Agree Reply Report Abuse

  • AMAR NATHAL, MANGALORE

    Sun, May 27 2018

    Make sure this modi does not escape. Soon even in the dictionary the word modi-fying will be known as modi-flying.

    DisAgree Agree [4] Reply Report Abuse

  • Jossy Tauro, Mangalore /Abudhabi

    Sun, May 27 2018

    Before 2014 Election Mr.Modis agenda against congress was and abusing about petrol price and giving big lectures in election campaigns . Now where is these words and promises ?Talking big things are easy and doing in reality is defferent .I dont care which party in power but doing better things to the people of the country is important rather than talking .But i am amazed that still some blind people supporting

    DisAgree Agree [6] Reply Report Abuse

  • sri_elder, Karkala

    Sun, May 27 2018

    What is the yearly revenue deficit if they apply 18% gst rate?

    DisAgree [6] Agree [1] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Mumbai

    Sun, May 27 2018

    Petroleum Minister Dharmendra Pradhan spoke about fuel price hike, said, 'GST is one way that is being looked into to ease the situation.' But, this man, talks something different. In Mumbai, petrol is 85.78 and in Parbani, Maharastra, it is 87.90. Even in neighbouring, much smaller and poorer countries, it is sold at a reasonable price.

    DisAgree Agree [8] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, May 27 2018

    Narendra, Lalit, Nirav & now Sushil ...

    DisAgree [2] Agree [11] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Sun, May 27 2018

    Panothis..

    DisAgree Agree [7] Reply Report Abuse

  • peddu, Mangalore

    Sun, May 27 2018

    We need to wait for another 6 months till the petrol price reaches INR 200 mark... then our Feku will open his eyes and reduce the price to INR 150... the Slogan for 2019 election will be "Petrol ke dham kam huve ke nahin" and all andh Bakths will vote for Feku..

    DisAgree [2] Agree [20] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Sun, May 27 2018

    Imposed inhuman taxes-cesses-excise on petroleum is clearly a policy against public. Despite of high taxes what public gained since 2014 except price hike and unsafety. Day-by- day Modi's reality surfaced he is only aggressive campaigner without out come.

    DisAgree [2] Agree [11] Reply Report Abuse

  • chris, Mangalore

    Sun, May 27 2018

    Who cares whether you get it in GST or not, Just reduce the price and dont give speeches, we want price reduction how you bring that it is your problem and for GOD sake dont reduce by 1 or 2 rupees.

    DisAgree [1] Agree [15] Reply Report Abuse

  • Valerian DSouza, Udupi/Mumbai

    Sun, May 27 2018

    Just by bringing petrol, diesel and GST, and charging 40% GST on it, everyone knows, it won't reduce price.
    People are asking for reduction of Taxes. 40- 50% taxes are official robbery!

    DisAgree [1] Agree [18] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, May 27 2018

    We are not Idiot's ...

    DisAgree [1] Agree [16] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Sun, May 27 2018

    After all, *someone* has to pay for the Modi's trips to Addis Ababa and Auckland, Buenos Aires and Beijing, Caracas and Colombo, Dubai and Dar es Salaam, all the way to Yaounde and Zagreb.

    DisAgree [2] Agree [12] Reply Report Abuse


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Title: Bringing petrol, diesel under GST won’t reduce prices much, says Sushil Modi



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