Policy

Bring petroleum products, realty under GST: Cong

| Updated on: Jan 17, 2018
Chandigarh, 27/11/2017: Punjab Finance Minister Manpreet Singh Badal arrives to take part in winter session of Punjab Assembly in Chandigarh on November 27, 2017.
Photo: Akhilesh Kumar

Chandigarh, 27/11/2017: Punjab Finance Minister Manpreet Singh Badal arrives to take part in winter session of Punjab Assembly in Chandigarh on November 27, 2017. Photo: Akhilesh Kumar

Unleaded fuel drips from a petrol pump at an ASDA Group Ltd. supermarket gas station in this arranged photograph in Croydon, U.K., on Friday, Dec. 11, 2015. A gauge of the bond market's outlook for U.K. consumer-price growth dropped to the lowest level since August as crude oil extended its decline into a sixth day, the longest losing streak in 18 months. Photographer: Luke MacGregor/Bloomberg

Unleaded fuel drips from a petrol pump at an ASDA Group Ltd. supermarket gas station in this arranged photograph in Croydon, U.K., on Friday, Dec. 11, 2015. A gauge of the bond market's outlook for U.K. consumer-price growth dropped to the lowest level since August as crude oil extended its decline into a sixth day, the longest losing streak in 18 months. Photographer: Luke MacGregor/Bloomberg

A day ahead of a crucial meeting of the GST Council, the Congress asserted its demand to bring petroleum products and real estate under the Goods and Services Tax’s ambit.

The party on Wednesday said that the Centre must take all States on board before coming to a decision, in order to pass on the benefits of lower crude oil prices.

Addressing reporters here on Wednesday, Manpreet Singh Badal, Finance Minister of Punjab, said bringing petroleum within the GST net would help exporters, too.

Asked if the Congress would propose any concrete steps to compensate States for the possible revenue loss if and when petroleum is brought into the GST net, he said it is up to the Council to take a decision.

‘Most taxed product He said there are multiple taxes on petroleum. “This is probably the most taxed product,” he said, adding that if the Centre wants to follow a ‘one nation, one tax’ principle, then petroleum should not be kept out of the GST’s purview.

“Petrol and diesel prices are skyrocketing. The Modi government is profiteering at the expense of the common man. To provide relief to consumers, petroleum prices should be brought under GST,” Badal said.

He said GST was projected to usher in growth, but its “flawed implementation” had resulted in an economic mess.

Published on January 17, 2018

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