×

Central and state governments opposed the move, fearing loss of a major source of revenue.

For those hoping petrol and diesel would be included in the Goods and Services Tax (GST) ambit, you might have to wait much longer. According to a PTI report, neither the central government nor state governments are in favour of this move, citing that it could lead to a major revenue loss.

Petro-products such as petrol, diesel, natural gas, crude oil and aviation turbine fuel (ATF) were excluded from the GST regime. The Union Finance Ministry brought up the issue at the GST council meeting on August 4, but central and state governments were opposed to the idea.

The central government’s input tax credit reduces by close to Rs 20,000 crore, which it receives in the form of all the taxes levied on petro-products.

News You May Like

1,500th Safari Storme for the Indian Army rolls out
  • Published On : 27 August 2018
  • 1 min read

Tata Motors is contracted to supply 3,192 units of the GS800 Safari Storme 4x4 army-spec SUV to the Indian Armed Forces.

Read More

Jeep Compass Gets Over 10,000 Bookings
  • Published On : 5 September 2017
  • 1 min read

The company has ramped up production at its Ranjangaon plant to meet demand.

Read More