Gas And ATF Likely To Be Brought Under GST

As per the reports of a Government official, two out of the five petroleum products namely aviation turbine fuel ("ATF") and natural gas are among the first set of petroleum products that are likely to be included under the ambit of Goods and Services Tax ("GST"). Although the tax rate on both the products has not been finalized, the decision for the same will be taken by the GST Council.

The Finance Ministry has commenced planning for the next round of discussions at the GST Council for including natural gas and ATF within the ambit of GST prior to developing a consensus for other petroleum products.

To develop and sustain a consensus with the states prior to the implementation of GST, the Union Government had decided to exclude five petroleum products namely crude oil, petrol, diesel, ATF and natural gas from the list of products covered under the ambit of GST. However, products such as cooking gas, kerosene and naphtha were included. A member of the GST Council pr