GST Council To Discuss Bringing Natural Gas Under Its Ambit In Next Meeting
The Goods and Services Tax Council could consider bringing natural gas within the purview of the indirect tax regime in its next meeting, an official said today.
The inclusion of natural gas within the GST purview on an experimental basis would be put before the GST Council in its forthcoming GST Council meeting, a PHD Chamber statement quoted GST Council’s Joint Secretary Dheeraj Rastogi as saying. Rastogi said aviation turbine fuel could also be brought within the GST ambit among five petroleum products.
He, however, did not prescribe a specific time frame for bringing natural gas and ATF within GST.
While petroleum products like kerosene, naphtha and liquefied petroleum gas are under the ambit of GST, five items in the basket – crude oil, natural gas, aviation fuel, diesel and petrol, have been excluded during the initial years.
“Petroleum is a considerably larger source for revenues not only for the Centre but states also and on natural gas front, there is some consensus for bringing it into GST ambit and therefore, it could be the first petroleum product that could come in well within GST network,” Rastogi said in the statement.
Addressing the workshop on GST, Rastogi also indicated the government’s intention to revise the definition of supply under GST.
On the advance ruling issue, the Joint Secretary held that in the recent past, some states have given a contradictory ruling on these to concerned stakeholders and, therefore, a policy decision is likely on setting up centralised advance ruling authorities to address relevant issues relating to GST rather than keeping redressal of such problems confined to one particular state advance ruling authority.