GST Council Likely To Consider Bringing Petrol, Diesel Under GST At Its Next Meeting This Week: Report

GST Council Likely To Consider Bringing Petrol, Diesel Under GST At Its Next Meeting This Week: ReportFinance Minister Nirmala Sitharaman (Representative Image)

The Goods and Services Tax (GST) council is likely to discuss the inclusion of petrol and diesel under GST structure in its next meeting on Friday (17 February).

Both, petrol and diesel, are currently outside the purview of the GST and attract central excise duty by the Centre and value added tax by states at different rates.

During the GST Council's meeting on Friday, the Centre may also put forth some options to states for making up the goods and service tax (GST) shortfall beyond June 2022, reports Economic Times.

Further, the Council will also consider extending GST rate reduction on Covid-19 treatment drugs and medicines till 31 December. It may also deliberate on hike in GST rates on solar PV modules to 12 per cent from 5 per cent.

The issue of including petrol and diesel under the GST structure may also be discussed, a person aware of the details was quoted in the ET report as saying.

According to the report, the GST Council Secretariat has asked the council to decide on the inclusion of petrol and diesel under GST structure, following a Kerala High Court order.