Left Menu
Development News Edition

HPCL Chairman expects new govt will bring petroleum products under GST

Devdiscourse News Desk | New Delhi | Updated: 21-05-2019 09:57 IST | Created: 21-05-2019 08:50 IST
HPCL Chairman expects new govt will bring petroleum products under GST
He also outlined that ban imposed by the US on oil supply from Iran would not have much impact on HPCL's crude sourcing strategy. Image Credit: Pxhere

Hindustan Petroleum Corporation Limited (HPCL) Chairman Mukesh K. Surana on Tuesday said that they expect the new government to bring petroleum products under the GST regime. Speaking about his expectations from the new government, Surana told ANI, "This government has done lots of reforms. Oil companies do not get input credit on fuel products because of them not being under GST. Our expectation from the new government is to bring petroleum products under the GST regime."

Upon being asked about the upward trend in fuel prices after the culmination of the general elections, Surana reiterated that the prices are dependent on international factors and said, "Oil prices depend on international factors. There are factors like US-China trade relations, the tension in Venezuela, tension in the Middle East among others. As domestic prices are linked with exchange rates hence it fluctuates according to global situations." He also outlined that ban imposed by the US on oil supply from Iran would not have much impact on HPCL's crude sourcing strategy.

"HPCL doesn't import much from Iran and there are also alternatives to it, so there is not going to be any impact on us", he said. Replying to another question about HPCL having any dues from grounded Jet Airways, Surana informed that Jet doesn't have any outstanding with HPCL.

In past, many key political leaders across party lines have batted for the inclusion of petroleum products in GST. In October last year, Congress President Rahul Gandhi once again called for the inclusion of petrol and diesel under the ambit of the Goods and Services Tax (GST).

In September, Union Petroleum and Natural Gas Minister Dharmendra Pradhan had also said that petrol and diesel should come under the ambit of Goods and Services Tax (GST). "I want petrol and diesel to come under the ambit of GST. The GST Council should take a decision on this. State governments are more powerful than the Centre in the GST council meeting," Pradhan had said.

The new government in the Centre will be formed after the announcement of results on May 23. Most exit polls have predicted a second-term for Narendra Modi led NDA government.



Why COVID-19 is unstoppable in USA despite it being ranked at the top of GHS Index?

Several worst-hit countries such as Italy, France, Spain, the UK, Canada, and Russia have peaked COVID-19 cases in April. Almost all of them have gradually flattened the curve. However, the USA is setting new daily records of infections tha...

COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...


Latest News

System's broken in South Africa: Former SA batsman Ashwell Prince on racism

Former South Africa batsman Ashwell Prince has claimed that many Proteas players were racially abused on their Australia tour in 2005, and were urged to continue playing regardless. Prince, said that the South African system was broken, say...

Frei, Vega standout as Seattle and San Jose play to 0-0 draw

Seattle goalkeeper Stefan Frei made eight saves, including a diving stop on a deflected shot in the 70th minute, and the Sounders and San Jose played to a 0-0 draw in the MLS is Back tournament. The West Coast squads seemed to wilt in the h...

Croatia, Bulgaria take big step toward joining the euro

Croatia and Bulgaria took a big step toward joining the shared euro currency Friday, underlining the currency blocs attraction despite its 2010-2015 debt crisis and the continuing debate about how to strengthen it against possible future tr...

Three A-League teams finally fly out of virus-hit Melbourne

It was third time lucky for three Melbourne A-League teams trying to leave the coronavirus-hit city of Melbourne so the soccer league can restart its season. With other states closing their borders to Victoria state due to an increase in CO...

Give Feedback