MP Govt not in favour of bringing petro products under GST ambit
The Madhya Pradesh Government here on Saturday made it clear that it can not give consent to the GST Council to bring the petroleum products under the purview of the Goods and Services Tax (GST).
“The total commercial revenue that we get from petroleum products is about 35 per cent of the total tax (commercial) that Government collects.”
“Therefore, it is difficult for us to give consent to the GST Council for bringing petroleum products under the purview of GST as we need funds for running the Government, development and to fulfill our social obligations,” Finance Minister Jayant Mallaiya told reporters. However, the Minister, who admitted that the rate of tax (VAT and entry tax) on petroleum products in the state is on the higher side also gave a justification for it.
“States like Gujarat and Maharashtra get sufficient tax revenue from industrial production, but it was not the case with Madhya Pradesh as industrial activities are less here. Therefore, for earning enough funds (tax revenue) we have to levy tax on petroleum products,” Mallaiya said.
The Minister said in 2016-17, a total of Rs 29,500 crore commercial tax was collected in the state which means an increase of 14.5 per cent per year. Mallaiya said he was satisfied with the implementation of GST in the state and the GST Council on the basis of state's feedback is continuously reforming it.
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