It was not the right time to bring petroleum products under GST!

Sat Sep 18 2021 12:27:03 GMT+0530 (IST)

Union Finance Minister Nirmala Sitharaman had called for the 45th Goods and Services Tax (GST) Council meet on Friday. The much-awaited meeting was held in Uttar Pradesh's Lucknow. People have a lot of expectations on the meeting, hoping that the fuel prices might be reduced by bringing the petroleum products under the purview of GST.

Pouring water on the dreams of the people to see the fuel prices coming down, the Finance Minister said this is not the right time to bring Petrol and Diesel under the GST.

Nirmala Sitharaman said, the issue of including the petroleum products under the Goods and Services Tax (GST) was discussed during the meet but it was not taken into the purview as the members present at the meet were not in favour of doing the same.

She said that the Council came to the opinion that it was not the right time to add the petroleum products and the decision to not include petrol and diesel in GST will be informed to the High Court in Kerala.

The only good thing in the GST Council meet is that the Union Government had announced the extension of the concession given to the drugs used for the Covid treatment. While the previous extension was only till September 30, the Centre had pushed the limit further to December 31.

As a big relief to the restaurants, the Union Government brought a new change to the tax payments for the eateries. The government said, now the food delivery platforms Zomato and Swiggy should pay the GST tax in place of the restaurants and other eateries.

Earlier, the restaurants and other aggregators used to pay the taxes. As some restaurants were found not paying the taxes they were supposed to do. Now the tax paid by the consumer whenever an order is placed will be paid to the concerned official without involving the eateries.

The GST Council meet that was chaired on Friday marks the first meeting where the members attended the meeting personally. Ever Since the Covid had hit the country, the meetings have been held virtually. With the condition seems under control, the meeting was held in person.