New Delhi : Electricity, petroleum products and some more items may be brought under the realm of GST, Bihar Finance Minister and Head of the Group of State Finance Ministers in the GST Council said.
Considered top revenue earner for both— the central and state government— the petroleum products were likely to attract the highest tax slab at the time of implementation of the GST on them, Prime Minister Narendra Mr Modi hinted here during an event organised by industry body FICCI.
To compensate the loss in revenue, the states would be at liberty to levy cess on it, he added.
He said inclusion of these items can be done without amending the constitution.
He however did not specify any timeline for its execution.
