Fuel under GST: Fears of a revenue hit are exaggerated

GST revenue set another record this April, reaching Rs.1.87 trillion, beating the mop-up of Rs.1.67 trillion in April 2022. This increase in GST revenue reflects better compliance, besides higher economic activity.

The best thing is that even in real terms, India’s GST growth is 8%. With GST revenue reaching normalcy, isn’t it an opportune time to bring oil under the GST regime?

With GST revenue on a sustained uptrend in India, this would be an opportune time to bring fuel under its ambit and correct the various economic problems this anomaly has been causing.