Petroleum Products, Alcohol Excluded From GST Regime

As a measure of support for the states, petroleum products, alcohol for human consumption and tobacco have been kept out of the purview of GST.

Petroleum products, alcohol excluded from GST regime

New Delhi, Could 6: By subsuming most indirect taxes levied by the central and state governments like excise, service tax, VAT and sales tax, the pan-India goods and services tax (GST) regime has proposed to facilitate a typical market in the country. As a measure of support for the states, petroleum products, alcohol for human consumption and tobacco have been kept out of the purview of GST.

Taxes on alcohol make up a serious chunks of state revenues as an illustration, in Kerala it contributes 22 percent of income, while in Tamil Nadu it yields about Rs.21,000 crore per 12 months. Transport fuels like petrol and diesel are taxed at 20 per cent, while states earn 35 % of their sales tax revenues from them. methanol can (Additionally learn: Goods and Companies Tax (GST) Invoice to be taken up in Lok Sabha on Could 5).

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