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GST Proposal includes Petrol & Diesel Taxes

Updated: 20/Dec/2014 3:37:19 PM
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GST Proposal includes Petrol & Diesel Taxes
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.