Committee to discuss inclusion of petrol, diesel
under GST regime
HYDERABAD: The
Empowered Committee of State Finance Ministers will meet
in New Delhi on December 14 to discuss State-wide
strategies for liquor, petrol and diesel and stamp duty
which are State revenue sources outside the Goods and
Services Tax (GST).
In the wake of proposals
to bring petrol and diesel too under the GST purview,
the meeting assumes importance.
The meeting to discuss
State revenue resources will be held after the larger
annual general meeting (AGM) of the Empowered Committee
of State Finance Ministers, Additional Secretary, GoI
and Principal Secretaries of finance and Commissioners
of Commercial Taxes of all States.
The AGM will approve the
annual report of the empowered committee and the
statement of accounts for the financial year 2016-17.
The meeting will be chaired by Dr. Amit Mitra, Finance
Minister of West Bengal. A week later the meeting of GST
Council headed by the Union Finance Minister Arun
Jaitley will be held.
Telangana, like other States, at present is not in
favour of bringing petrol and diesel under the GST for
now as the sales tax earned on petroleum products and
liquor is substantial and has been cushioning the loss
of revenue from the goods and services brought under the
GST. |