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Petroleum products to be out of GST ambit for now: CEA Arvind Subramanian

He said that the GST council will decide for how long these products will be out of the new taxation regime.

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Arvind Subramanian, Chief Economic Advisor, Ministry of Finance, Government of India
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Petrol and other petroleum products will not be brought under the Goods and Services Tax (GST) regime for some time after its roll out, Chief Economic Advisor Arvind Subramanian said on Sunday.

"Constitutionally, petrol and other petroleum products will be within the GST system. But it will be out of the GST dispensation after its implementation for some time," Subramanian told reporters on the sidelines of an event organised by the Indian Statistical Institute (ISI) in Kolkata. 

He said that the GST council will decide for how long these products will be out of the new taxation regime.

ALSO READ: Hopefully GST will be implemented in coming year: Finance Minister Arun Jaitley

"Even after GST, petrol and other petroleum products will continue to be taxed the way it is done at present both by the Centre and states," he said.

Asked about the roll-out of GST, he said that the Union Finance Minister Arun Jaitley had said that the government was hoping that the GST Bill will be passed soon.

"All depends on when the Constitution amendment bill gets cleared," Subramanian said.

Outlining the benefits of GST, he said that it will give the country a wider tax base and `Make in India' drive will get an impetus.

"However, no single reform could determine the long-term growth of the country," he said. 

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