BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years as it would cause an annual revenue loss of Rs 2 lakh crore to all states. Centre and states collectively collect over Rs 5 lakh crore tax … Read more
Amid record-high fuel prices, finance minister Nirmala Sitharaman on Monday said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five … Read more
With this, the total incidence of excise duty on petrol rose to ₹ 32.98 per litre and that on diesel to ₹ 31.83 a litre. While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48% in the current fiscal on the back of a record increase in taxes on petrol and … Read more