Banking & FinanceGSTNews

ATF & Natural Gas To Be Part of GST Sooner than Scheduled

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At least two out of the five petroleum products, including aviation turbine fuel or ATF and natural gas, are likely to be among the first set of petro products to be included in the Goods and Services Tax (GST) fold ahead of an earlier agreed schedule.

Sources said that the prospect of the two products being included into the GST fold has brightened as the government has started consultations to shift to GST 2.0, which will have fewer rates and limited exemptions.

As part of this, the Finance Ministry has started preparing ground for the next round of discussions at the GST Council with proposal for including gas and ATF into GST fold first before evolving consensus on other petroleum products.

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