Bring petroleum products in ambit of GST soon: PHDCCI

NEW DELHI: Industry chamber PHDCCI on Sunday urged the government to bring petroleum products in the ambit of goods and services tax (GST) soon, as high inflation in the fuel products is not only stoking overall prices but also increasing the cost of raw materials for manufactured items.

PHDCCI President Sanjay Aggarwal said the Wholesale Price Index (WPI)-based inflation has been in a double-digit growth trajectory for the past three months, stoked by high prices of fuel and power. He added that high commodity prices are posing a serious challenge to the small businesses to operate in the difficult pandemic times.