Bringing Petrol, Diesel Under GST Limits Pan India: SBI Research
An attendant takes a petrol hose from the pump. (Photographer Michael Hughes/Bloomberg News)

Bringing Petrol, Diesel Under GST Limits Pan India: SBI Research

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

SBI Research Report

One of the unfinished agendas of the current goods and services tax regime is bringing petrol and diesel under GST.

Centre and states are loathe to bring crude oil products under the GST regime as sales tax/value-added tax on petroleum products is a major source of own tax revenue for them.

Thus, there is lack of political will to bring crude under the ambit of GST.

Interestingly, no country in the world has a completely transparent mechanism in pricing petroleum products. However, the federal nature of taxing makes estimating state-wise petroleum, oil, and lubricants related product prices an especially tough exercise for India.

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SBI Research Ecowrap.pdf

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