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GST Proposal includes Petrol & Diesel Taxes
Posted on: 20/Dec/2014 3:37:19 PM
The Goods & services Tax proposed in the parliament includes the petrol & diesel taxes much against the protest from several state governments including Tamil Nadu. However, alcoholic liquor is not included.
Even though diesel & petrol tax ins included in the GST proposal, it would not come into effect until the central government’s official announcement.
The compensatory system to offset the state governments’ losses on GST will be operating from March.
Also, a GST council including the central & state government representatives will be formed to monitor the revenue from GST.
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