Insta
GST Council Likely To Consider Bringing Petrol, Diesel Under GST At Its Next Meeting This Week: Report
Finance Minister Nirmala Sitharaman (Representative Image)
The Goods and Services Tax (GST) council is likely to discuss the inclusion of petrol and diesel under GST structure in its next meeting on Friday (17 February).
Both, petrol and diesel, are currently outside the purview of the GST and attract central excise duty by the Centre and value added tax by states at different rates.
During the GST Council's meeting on Friday, the Centre may also put forth some options to states for making up the goods and service tax (GST) shortfall beyond June 2022, reports Economic Times.
Further, the Council will also consider extending GST rate reduction on Covid-19 treatment drugs and medicines till 31 December. It may also deliberate on hike in GST rates on solar PV modules to 12 per cent from 5 per cent.
The issue of including petrol and diesel under the GST structure may also be discussed, a person aware of the details was quoted in the ET report as saying.
According to the report, the GST Council Secretariat has asked the council to decide on the inclusion of petrol and diesel under GST structure, following a Kerala High Court order.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
