New Delhi, March 7: Amid a clamour for cut in taxes on auto fuels to check their skyrocketing retail prices, finance minister Nirmala Sitharaman on Friday told a group of journalists at the Indian Women’s Press Corps that the government was not yet ready with a plan to bring these petroleum products under the goods and services tax (GST) regime, but indicated that it might take a call on the issue closer to the GST Council meeting.
Sitharaman, however, was non-committal on whether the states would be compensated for any revenue shortfall arising out of inclusion of these fuels under GST. Since a major part of the Centre’s taxes on the fuels are not shared with states (GST receipts are shareabale), it would also have to assess the revenue implications of the move.
Amid a clamour for cut in taxes on auto fuels to check their skyrocketing retail prices, finance minister Nirmala Sitharaman on Friday told a group of journalists at the Indian Women’s Press Corps that the government was not yet ready with a plan to bring these petroleum products under the goods and services tax (GST) regime, but indicated that it might take a call on the issue closer to the GST Council meeting.
Sitharaman, however, was non-committal on whether the states would be compensated for any revenue shortfall arising out of inclusion of these fuels under GST. Since a major part of the Centre’s taxes on the fuels are not shared with states (GST receipts are shareabale), it would also have to assess the revenue implications of the move.