Kerosene, naphtha and LPG to be included in the GST list

Products such as kerosene, naphtha and liquefied petroleum gas will come under the ambit of the goods and services tax (GST), while five items in the basket – crude oil, natural gas, aviation fuel, diesel and petrol – have been excluded during the initial years. The oil and gas industry will be substantially impacted by the introduction of the GST as the industry will have to comply with both the current tax regime as well as the GST regime. While compliance is one issue, taking tax credit from the government would be another. Besides, there would be non-creditable tax costs as well.

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