Petrol Diesel and GST
Does anyone know what is coming in the way of Government including petrol and diesel under GST. This will help people save significantly and act as major relief to household budgets. What states are opposing it? Our survey was available online. localcircles please share all such publications.
https://www.outlookindia.com/newsscroll/consumers-bat-for-inclusion-of-petrol-diesel-under-gst/1210763
Amid wavering fuel prices, consumers urged that petrol and diesel be brought under the ambit of the Goods and Services Tax (GST), according to a survey.
In the past few months, the inclusion of petrol and diesel under the GST has been debated time and again. Recently, Bihar Deputy Chief Minister Sushil Modi, who is also a member of the GST Council, had said the aforementioned move is being deliberated upon.
To this regard, a survey was conducted by LocalCircles asking citizens if petrol and diesel should be brought under GST. Out of the 8,488 respondents, 81 percent voted in favour of it while 12 percent voted against it.
Citizens also argued that if implemented, the states could be allowed to add a cess to it to cover up some of their revenue losses and the centre could reimburse them yearly to balance their ledgers.
It is to be noted that states and centre both currently make about 40 percent of their revenue through the sale of petroleum products. If petrol and diesel are bought under the 28 percent slab of the GST, the price of petrol will drop to around Rs. 43 per litre and diesel to around Rs. 48 per litre. more
https://www.outlookindia.com/newsscroll/consumers-bat-for-inclusion-of-petrol-diesel-under-gst/1210763
Amid wavering fuel prices, consumers urged that petrol and diesel be brought under the ambit of the Goods and Services Tax (GST), according to a survey.
In the past few months, the inclusion of petrol and diesel under the GST has been debated time and again. Recently, Bihar Deputy Chief Minister Sushil Modi, who is also a member of the GST Council, had said the aforementioned move is being deliberated upon.
To this regard, a survey was conducted by LocalCircles asking citizens if petrol and diesel should be brought under GST. Out of the 8,488 respondents, 81 percent voted in favour of it while 12 percent voted against it.
Citizens also argued that if implemented, the states could be allowed to add a cess to it to cover up some of their revenue losses and the centre could reimburse them yearly to balance their ledgers.
It is to be noted that states and centre both currently make about 40 percent of their revenue through the sale of petroleum products. If petrol and diesel are bought under the 28 percent slab of the GST, the price of petrol will drop to around Rs. 43 per litre and diesel to around Rs. 48 per litre. more
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View all 13 comments Below 13 comments
Petrol, Diesel and alcohol are heavily taxed by both centre and state government. With existing GST slabs which is 28% maximum, if those brounght under GST, it is not possible for govenrment to recover existing duty and VAT with these GST slabs. This will have major impact on revenue collection of both governments. This may be good reason for not bringing these products under GST perview. more
Jan 13
GST play an important role when applied on Petrol, Diesel and Liquor. significantly effect people. more
Jan 11
The problem GoI is facing is the infrastructure which is not ready yet. Fuel and liquor transactions are much higher than the total national transaction on rest of the produce. So, it would be hard to manage the tax settlement system and there are all possibilities of the system failing immediately after implementation. The other reason is that the accounting of by-product generated during the refinement process of crude is tedious and it's important to have a pilot successfully implemented at a smaller scale before the system is handed over to the country. There could be other reasons also as others have stated, but my focus is on the first two at the moment. more
Dec 29
Even if the petrol and Diesel are brought under the GST the governments in order to maintain their earnings levy taxes in some other commodities. The only source of government income is taxes and duties. The way out is transparency and accountability. That is why the world make ups and down when come across bribes and scams. more
Dec 24
The way GST rates have been structured, it was not the objective of the Govt to reduce the prices of commodities. In my view it seems only to befool the citizens. No one is interested in to compromise their revenue. more
Dec 20
