CEA BATS FOR BRINGING PETROLEUM PRODUCTS UNDER GST REGIME

NEW DELHI: Chief Economic Advisor K V Subramanian has backed a proposal to bring petroleum products under the ambit of the Goods and Ser vices Tax (GST).

He, however, said the decision will have to be taken by the GST council.

"It will be a good move, but the decis ion rests with the GST Co uncil," Subramanian said during a recent interaction w ith FICCI FLO members.

Subramanian also said inflation ar y pressures are mostly on account of "foo d inflation".

Petroleum Minister Dharmendra P radhan had also urged Union Finance Minister Nirmalya Sitharaman to bring petroleum products under the ambit of the GST.

Continuous rise in fuel prices has burdened the common man and become a political issue in states where as sembly elections are due. Currently, petroleum products attrac t central excise duty and value added tax (V AT) levied by states.