45th GST Council meet: Petrol still not brought under GST
The people who were expecting a reduction in the prices of petrol and diesel were again disappointed today. After the meeting of the GST Council, it became clear that at present petrol and diesel will not be brought under the purview of GST. After the 45th GST Council meeting, Finance Minister Nirmala Sitharaman informed about the decisions taken in it.
Finance Minister Nirmala Sitharaman said in a press conference after the council meeting that the GST Council felt that this is not the right time to bring petrol and diesel under the ambit of GST.
It is to be known that when the GST was implemented on July 1, 2017, the central and state governments had kept crude oil, natural gas, petrol, diesel and ATF out of the purview of GST in view of their revenue. On this, the central government and the state governments levy different taxes in their respective places and the money coming from it goes to the government treasury.
How much tax is levied on petrol and diesel?
Today the price of petrol in Delhi is Rs 101.19 and the price of diesel is Rs 88.62 per liter. Importantly, more than half of this money does not go to the companies, but to the central and state government in the form of tax.
Other decisions of 45th GST council meet
Certain life saving drugs are exempted from GST. These drugs are not related to corona but are very expensive.
Two such medicines which are very expensive include Zolgensma and Viltepso. The cost of both of these is around Rs 16 crore. The council has decided to give exemption in GST on these.
