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GST PETRO PRODUCTS
Less exempted good, by raising rates badThe GST Council must act swiftly to widen the tax base and include petro products so that multiple taxes that automotive fuels bear get eli...- Pricey unity of textile GST ratesReform should entail having a central rate for the vast majority of goods, a merit rate and a demerit rate. But this requires political wil...
- GST reform still a work in progressMandating food service aggregators such as Zomato and Swiggy to collect tax from the customer and pay it directly to the government from Ja...
- Complete GST Chain To Boost ExportsA more efficient way is to bring all indirect taxes under GST. It will enable exporters who have paid embedded taxes in the value chain end...
- No GST on petrol, diesel in near future as Centre, states not in favourIf the two fuels are put under GST, the Centre will have to let go Rs 20,000 crore input tax credit it currently pockets by keeping petrol,...
- BJP-led NDA government bridged trust deficit with states before implementing GST: Sushil ModiWe may have to wait for some more time for a slab rejig. If revenues cross Rs 1 lakh crore every month, then the GST Council can take a cal...
- States get to levy additional taxes on top of 28% GST on petrol, diesel: Sushil Kumar Modi"If petrol, diesel are to be brought into GST, then states will be allowed to levy taxes on top of 28 per cent to prop up revenue.
- No pure GST on petrol, diesel; 28% tax plus VAT on anvil under GSTThe peak GST rate plus VAT will be equal to the present tax incidence, which is made up of excise duty, levied by the centre, and VAT charg...
- Including petro-products in GST ambit after consensus: Arun JaitleyDuring the Question Hour in Rajya Sabha, Congress leader and former finance minister P Chidambaram sought to know the union government's po...
- Rajya Sabha clears GST Bill, tower companies may lose out on Rs 2,000 crore in annual savingsSince tower companies, typically, are huge consumers of diesel, continuation of central excise duties and state sales tax levies would have...
- Tower cos may miss out on Rs 2K cr savings if petro-products remain out of GST ambitSince tower companies, typically, are huge consumers of diesel, continuation of central excise and state sales tax levies would have a casc...
- Government exploring ways to bring petro products under DBT: Dharmendra PradhanThe Minister said government was planning to implement the Direct Benefit Transfer scheme in kerosene after its successful implementation i...
- Why we need to change fuel taxesNote that inter-state transactions are currently levied 2% central sales tax — it is a major revenue source, with the proceeds going to the...
- Carving-out GST exemptions will break up input tax credit chainGST will see revenues grow faster: the incentive to pay tax is built in because only then will a manufacturer be able to claim credit for t...
- Don't riddle GST with exemptionsExemptions should be kept to the minimum to capture value addition across sectors so that there is no break in the credit chain.
- States oppose inclusion of petro products, liquor in GSTSeveral states opposed inclusion of petroleum products and liquor in the proposed GST regime as the move would severely affect their revenu...
- GST panel to discuss taxation of liquor, petro productsIssues concerning taxation of liquor and petroleum products are expected to figure in the meeting of the Empowered Committee of State Finan...
- GST: Some good news and some badMature economies with high taxes on oil products invariably have an integrated GST in place .
- Centre wants alcohol, petro products under GSTThe Centre is hopeful of taking on board Haryana and Punjab on including the purchase tax in the GST.
- Petro products may remain out of GST netPetroleum products including crude, high speed diesel and petrol may remain outside the ambit of the proposed goods and service tax (GST).
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