#Petrol under GST

[townpostin]

Singhbhum Chamber Delegation Engages with GST Commissioner on Key Issues

Business leaders discuss GST integration of petrol and diesel, among other pressing concerns. A delegation from the Singhbhum Chamber of Commerce and Industry met with Central GST Commissioner Binod Kumar Gupta to address significant GST-related issues ahead of the upcoming council meeting. JAMSHEDPUR – Led by General Secretary Manav Kedia, a delegation from the Singhbhum Chamber of Commerce and…

[alishajoy059]

Overview of GST Registration

Goods and Services Tax (GST) is a uniform value-added indirect tax levied on the supply of goods and services across India. As a destination-based tax, GST is charged only on the value addition at each stage of the supply chain. Businesses can offset the output tax liability with input tax credits for the taxes paid during procurement. Registration under GST is essential for tax compliance and identification of taxpayers within the economy. This article delves into the significance of GST registration, the criteria for registration, and essential exemptions.

Importance of GST Registration

Obtaining a Goods and Services Tax Identification Number (GSTIN) is crucial for any business entity as it allows them to:

Collect Taxes: Registered businesses can collect tax on their output goods or services on behalf of the government.

Claim Input Tax Credit: Registration enables businesses to avail of input tax credit for the taxes paid on inward supplies, reducing their overall tax burden.

Enhance Business Credibility: GST registration boosts a business’s credibility and trustworthiness in the eyes of customers and suppliers.

Turnover Criteria for GST Registration

The requirement for GST registration is primarily based on the turnover of the business:

For Goods Suppliers: Registration is mandatory if the annual turnover exceeds ₹40 lakhs (₹20 lakhs for special category states).

For Service Providers: Registration is required if the annual turnover exceeds ₹20 lakhs (₹10 lakhs for special category states).

Businesses must complete their registration within 30 days of exceeding the turnover threshold.

Exemptions from GST Registration

Certain businesses are exempt from mandatory GST registration, including:

Individuals whose turnover falls below the threshold limit.

Suppliers exclusively dealing in goods or services that are exempt from tax.

Agriculturists supplying produce from their cultivation.

Entities involved in activities that are neither goods nor services (e.g., petrol).

Suppliers making only reverse charge supplies.

Levy of Tax under GST

GST is applicable to the supply of all goods and services, except for specific items such as:

Petroleum products (crude oil, diesel, petrol, natural gas, and aviation turbine fuel)

Alcohol for human consumption

These items are subject to taxation by individual State Governments according to their respective tax laws.

Compulsory Registration Under GST

Certain circumstances necessitate GST registration, such as:

Inter-State taxable supplies, except for small service providers below the turnover threshold.

Casual taxable persons making taxable supplies.

Non-resident taxable persons.

Persons required to deduct tax under specific sections.

Other entities, such as electronic commerce operators and input service distributors, also need to register under GST.

Conclusion

GST registration is a fundamental requirement for businesses in India, ensuring compliance with tax laws and enabling smooth operations. Understanding the registration criteria, exemptions, and tax implications can significantly aid businesses in navigating the GST landscape. For a successful business operation, timely registration and adherence to GST regulations are essential.

[novatedleaseexplained]

Is it Worth Salary Sacrificing an Electric Car?

As electric vehicles (EVs) become more popular in Australia, many are exploring the financial benefits of novated leases, especially when it comes to salary sacrificing an electric car. But is it truly worth it? Let's delve into the advantages and considerations of EV leasing, with a particular focus on the services offered by Carbon Leasing, a leading lease provider in Australia. 

What is Salary Sacrificing? 

Salary sacrificing, also known as salary packaging, is a financial arrangement where you agree to forgo part of your pre-tax salary in exchange for benefits of similar value. One popular benefit is a novated lease, which allows employees to lease a car using their pre-tax income, reducing their taxable income and potentially leading to significant tax savings. 

The Benefits of Salary Sacrificing an Electric Car

Tax Savings

   - Pre-Tax Payments: By using pre-tax income for lease payments, you reduce your taxable income, which can significantly lower your tax liabilities.    

- GST Benefits: In many cases, the GST on the purchase price of the vehicle can be claimed by the employer, which is then passed on as a saving to the employee. 

Cost Efficiency

   - Bundled Costs: Novated leases typically bundle all car-related expenses (including registration, insurance, maintenance, and fuel) into one monthly payment, simplifying financial management.    

- Lower Operational Costs: Electric vehicles generally have lower running costs compared to petrol or diesel vehicles, including lower fuel costs (electricity vs. fuel) and reduced maintenance costs due to fewer moving parts. 

Environmental Benefits

   - Reduced Emissions: Driving an electric vehicle significantly reduces your carbon footprint, contributing to a cleaner environment.    

- Support for Green Technology: Salary sacrificing an electric car supports the adoption and development of green technologies. 

Why Choose Carbon Leasing?

Carbon Leasing is a leading lease provider in Australia, specialising in EV leasing and salary packaging solutions.

Here’s why we stand out: 

- Expertise in EV Leasing: Carbon Leasing offers tailored solutions for electric vehicle leasing in Australia, ensuring you get the best deal suited to your needs. 

- Competitive Rates: They provide some of the most competitive rates in the market, ensuring you maximise your savings. 

- Comprehensive Service: From initial consultations to lease agreements and vehicle delivery, Carbon Leasing offers a seamless and hassle-free experience. 

Novated Leasing a Tesla with Carbon Leasing 

One of the most popular choices for EV enthusiasts is Tesla. Tesla leasing through Carbon Leasing can be particularly advantageous due to the high residual value of Tesla vehicles, which can further reduce your lease payments. 

- Flexible Lease Terms: Choose from a variety of lease terms to suit your financial situation and preferences. 

- Online Free Calculator: Use Carbon Leasing’s online calculator to get an instant estimate of your monthly costs and potential savings. 

Considerations and Potential Downsides 

While there are numerous benefits to salary sacrificing an electric car, it’s also important to consider potential downsides. This is why choosing the right provider is so important.  Some things to watch out for with other providers: 

- Hard to read quotes – you should be able to understand how much you are paying for by simply looking at the quote. 

- No interest rate – if the interest rate isn’t listed anywhere on the quote that is a massive red flag. If your interest rate is too good to be true, we can guarantee you it is. Those low interest rates are generally loaded with nasty fees.  

- What is your brokerage and establishment fee? – be careful with how these are listed in your quote. They can be buried under a million-line items that are designed to confuse you.  

- Check the maintenance packages – some providers will bundle expensive and unnecessary maintenance packages that will drive up the cost overall.  

- Check for hidden charges in the amount financed

– we don’t make customers finance things they don’t need but other providers do. We also don’t try and sell you junk insurance buried into our quotes. 

With Carbon Leasing, a top-notch lease provider, you can enjoy a seamless and cost-effective experience, making it easier than ever to drive an electric vehicle in Australia. Whether you’re considering Tesla leasing or exploring other EV options, salary packaging in Australia provides a practical and financially savvy route to driving a green, efficient vehicle. 

[jollyclamps50]

India’s Journey Towards Green Mobility: The First Breakthrough

During an interview with Press Trust of India, Nitin Gadkari this week, the Union Minister for Road Transport and Highways, emphatically declared to transform India into a green economy to promote environmentally friendly mobility by completely eliminating both the petrol and diesel engine vehicles. However, the minister declined to indicate a definite timeline and milestone for attaining such an ambitious target; though he appeared confident about the wave of changes that are expected to happen over the next five to seven years.

This idea stemmed from the fact that India spent close to US$17.00 billion on Crude Oil imports last year as a result of which, it is incumbent to develop alternate fuel for sustainability and self-reliance towards our avowed goal of AtmaNirbhar Bharat by promoting the use of biofuels to allow India to end its dependence on crude oil imports.

The Union Minister further proposed a reduction of GST on hybrid vehicles to five per cent and flex engines to 12 per cent, an initiative which is currently under active consideration by the Finance Ministry to give a fillip to the production and use of such vehicles.

Reacting to the statement of the Minister, environmental activists welcomed the increasing initiative to develop green mobility in India.

[new-haryanvi-ragni]

Chorus Grows Around Bringing Petrol & Diesel Under GST as FM Sitharaman Puts Ball in State Courts

The 49th meeting of the GST Council is scheduled to be held here in the national capital on February 18, to be chaired by finance minister Sitharaman.  source https://zeenews.india.com/economy/chorus-grows-around-bringing-petrol-diesel-under-gst-as-fm-sitharaman-puts-ball-in-state-courts-2574012.html

[vinuthna28]

Consumption/Collection Journal Blog

Today's consumption: Nature's walk at my grandparent's house (1/19)

After 7 years, I went to India to spend some time with my family. Me, my mother, my aunt and my cousin went to my grandparent's house in the car from one state to another state. After reaching there, we were introduced to village vibes and food. I saw the garden in my grandparent's house, and it reminded me of my past memories. Every flower reminded me of unique memories as I walked through the path. A chikoo tree was there for 30 years, but it's slowly dying now. I remembered that I used to play with my sister who is distant from me now. We used to play hide and seek and she used to hide on top of the tree branches. There used to be a well in front of the house, which is closed now. All my cousins used to make up scary stories of a woman who lives in the well and scare us by saying she likes to kill small kids and eat them.

There used to be a flowering plant that is orange and white but i think it's dead now. but my grandparent's neighbours had the same plant now, so I took their flowers. I missed my life in India a lot.

Today's consumption: using internet to expedite visa appointment (1/20)

I got an email from the Consulate general of the United States of America on January 17th informing me that I got an expedited visa appointment for January 20th. To get this appointment, we had to call the consulate's general customer service so many times at every step of the process. I had to wait for 48 hours to move forward with every step. 48 hours to get a new application, 48 hours to get the application accepted, and 48 hours to request an expedite visa appointment. Finally, I got the appointment on January 20th. We had to use the internet to confirm the appointment and move forward with our day.

Today's consumption: Getting my passport back in metro transport(1/21)

I got my passport back in one week, which was miraculous. It is really rare to see anyone getting the passport back before 4 days, but I got my passport back in 1 day. To pick up my passport I have to go to a different place. It is a Hi-tech city, which is far away. So I had to use the metro station and go to the last-second stop on the blue line. The last time I saw it, it was under construction for a long time. The ticket cost for it was 50 rupees for each person, based on the place we went. we had to pay 100 rupees for both me and my mom to Hitech city. I went on the train along with my mom and we were on the train for 30 mins. It was a type of city I never thought I would see in my life. The city was developed a lot, and a lot of old cities were touched by the metro. It was crowded but economically it is useful for common people. normal per day cost would be approximately 60 rupees which are not costly at all. but if they travel with their own vehicles, there would be the cost of toll gates, the cost of petrol or diesel and heavy traffic.

Today's consumption: Going back home from my grandparent's home by car (1/22)

We had to start our journey early in the morning by 5 am so that there won't be any traffic. My cousin was driving. as usual I had to irritate him without any reason. We were going in a car. The cost of petrol was 4000 rupees for 4 hour drive, which is reasonable. Toll gates cost was 100 rupees for each gate, so 400 rupees for 4 gates. It was fun to drive along with fun people. We had to stop at a place to eat before we go home. The food costed 355 rupees.

Today's consumption: Shopping at Anil Trading CO... ATC (1/23)

Anil Trading corporation is in Ameerpet, Hyderabad. It is a shopping mall for clothes with affordable prices. We visited there along with my aunt and uncle. We spent 2 hours shopping for western and Indian kurtas and one traditional piece of clothing. For every shop, they asked us to a proof of government paper that shows residential proof. For clothing, there was GST (goods and tax services). total cost was 4,659.00 rupees. We paid with cash as cards are not accepted much culturally.

Today's consumption: Listening to music (1/24)

At midnight, my sisters and I were planning to have a night out. So we planned to be awake and enjoy the night as we used to like in our childhood. We were awake and we were talking about what happened to each other while we were away for 7 years. After the talk, we were listening to our favourite playlist. It was on Spotify. It was my favourite album by RM called Indigo. My sisters really loved the album. I felt nostalgic when I was hearing it with them. I'm sure i will remember this even when I am back home in Minnesota.

Today's consumption: purchasing unnecessary things at exhibition (1/25)

My family and I started from our house at 4pm, as it was hot for us and cold for my family. We were feeling hot because of the effects of living in Minnesota. We all wanted to go to Nampally Exhibition. The largest consumer exhibition in Hyderabad is called Hyderabad Numaish. The only event in the world that is planned for a period longer than a month, or for 46 days, is an annual celebration that typically begins with the start of the New Year. More than 2300 booths are anticipated for the 46 days showcase, providing visitors with a wide range of intriguing options. Vendors from all across the nation go here to set up shop at the fair. The ticket cost is 40 rupees for each person. So, in total it cost me 280 rupees for 7 people. We went to the place on the metro rail. And for that, it cost 455 rupees. We went to different stalls in the exhibition and tried all types of dresses and food. My sister picks up one dress and says she loves it and will buy it but in 2 minutes that opinion changes. My brother was busy trying new food items. My mom and aunts were busy looking at jewellery. I and my other sister were busy keeping track of everyone. We spent 1000 rupees on the stores and bought a few dresses. It was really fun to hang out with my sisters.

Today's consumption: packing bags for the trip (1/26)

Today we were packing our items in luggage. I and my aunt had to walk a lot and gather all the clothes that were given for alteration. When I landed in India, no one allowed me to travel a lot as it was really chaotic and hard for me to walk on the roads. But today I went to cross the main road alone. It was rush hour and there were so many cars but me being a local I crossed the road without a problem. After I came home, my grandparents were yelling at me for going alone. Everyone says I have overconfidence, but now I'm sure that I have overconfidence. Today I was happy that I was finally back to my Indian self. Packaging food items, it cost me over 400 rupees. We had to pack Indian pickles in leak-free packages. But I became good at bargaining so got it for 250 rupees. Money saving mode.

Today's consumption: Going for the trip (1/27)

We had our flight for 8:40 pm. But the famous Asian thing is that we need to be at the airport 5 hours early so that we won't miss the flight. And we did go to the airport by 3 pm. By the time we cleared all security checks and everything, it was almost 5 pm. I and my mom was just roaming in the airport. I was reading a book in the store and my mom was sleeping in the waiting area. I bought the book, it was called me before you. I read it until it was time for my flight. it was a really good book. The first flight was from Hyderabad to Bangalore via Vistara. I hate those airlines so much. The food is not good and the taste was so bland. It was an hour's flight but still, it was boring and there was no internet on the aeroplane. So I just slept. After the flight landing, it was 10 pm. So we had to go search for an international terminal. there we had to wait until 2 am.

Today's consumption: Going for the trip (1/28)

After 2 am, we were checking into the flight to Paris. it was an Air France flight. I don't remember exactly but we spent 8 hours travelling to Paris. and other 8 hours waiting in Paris airport. While we were waiting, we were enjoying the views and art museums at Paris airport. unfortunately, we can't step outside the airport without the travel visa that is required for Europe. So, we had to enjoy the place from the inside. we were shopping around the place and had to pay in euros. So, we went to the currency exchange store and had to exchange the currency for euros. We exchange a few dollars and a few Indian rupees for euros. Finally, we met some people from Pakistan who are travelling to Canada via Minneapolis. We were exchanging some words as they speak the same language as us. After some time, we had to board the flight and we were in the flight.

Today's consumption: Going for the trip (1/29)

Now we were on our way to Minneapolis finally. The flight was almost empty. So I took two seats to myself and same with my mom. we wanted to sleep freely. Of all the flights, I loved delta flight food. We had a good dinner and my mom fell asleep, but I was wide awake. So for some time, I used the aeroplane's wifi and texted my sisters and talked to them. and after that, I watch a movie called Victoria and Abdul. It was historic but it was to my taste. After that, I fell asleep. After 5 hours I woke up and I was eating dinner again. And in one hour they landed us. The security check was hard and scary as I was away from my mother. And we had to pick our bags from the converter belt. As we were picking bags up, we missed a bag. we couldn't find one bag, so we had to go complaint to them. We went home, and said hi to my dad and brother and went to sleep. It was 12 am by then.

Today's consumption: Going to university after a month break (1/30)

I had to wake up by 5 am for university. I didn't get enough sleep, but I had to be awake. In the afternoon, I was really sleepy as that was the time I sleep in India, it was really hard to be awake in class but I finally managed. After going home, I had to call delta management for the lost baggage, I had to wait for 1 hour to talk to someone for 15 mins. but I needed the work to be done, so I had to wait. For every question I'm asking to customer service, they are asking me to keep on hold for at least 10 mins. When they are back, they are only coming with the information saying they couldn't find the luggage. After going home, I had to write everything I need to catch up in every class. I had to sleep by 10 pm as I couldn't stay away anymore.

Today's consumption: using a-lot of coats to keep myself warm (1/31)

It was really hard to adjust to the cold. The weather temperature was over -15. I thought I would catch a really bad cold, but I didn't which is really happy. I had to wear all the thermals, gloves, a hat and a coat. I was remembering my family a lot from India. I was missing my aunts and everyone. At night I was asleep, but I think I was in a livid dream, I can literally imagine that I was in my grandma's room, it was so realistic that I forgot that I was back in my house. I was calling for my grandma but my mom came and woke me up saying I was not there anymore. It has been 7 years since I last saw them, but I didn't think this would be an effect on me.

Today's consumption: Used phone to call my friends (2/1)

It's been a long time since I talked or got in contact with any of my friends. I was planning to do that since I was in India. I used to be very close with most of my classmates and high school friends. I need to get back to them and catch up with them. So I called one of my friends - Keerthi, but she said she was busy. so I called others and they said they can meet up. So planning to meet them on Feb 20th.

[werindialive]

Congress criticizes the Budget 2023, calls it “election oriented”

After Union finance minister Nirmala Sitharaman announced the Union Budget 2023 on Wednesday the Congress Party showed its disappointment and claimed the budget failed to address several key issues.

Stating the budget as ‘Naam Bade Aur Darshan Chhote Budget’ (big on announcements and short on delivery), Congress said issues like unemployment, inflation, and price rise were left out of the budget.

The party further said that it was a calculated move by the Prime Minister as he always “over promise, under deliver”.

In an interview with a leading media house, Congress MP Syed Naseer Hussain called the budget election oriented’ and talked at length about Rahul Gandhi and the Bharat Jodo yatra.

When asked about his opinion on the Budget 2023, Syed said, “Congress and the opposition parties have been raising issues of unemployment, poverty, inflation, falling of the rupee, the MSME sector, and MSP to farmers and these issues have not been addressed. We have been telling them of the 30 lakh vacancies in government positions in central and states, that has not been addressed. There is no assurance of MSP to farmers, MSME sector how will you boost? What is the roadmap for the recovery of the economy, 23 crores of people who were lifted to above Poverty Line (APL), they have been again gone back to Below Poverty Line during COVID and under this regime, so what is your vision for them and how will you boost agriculture and how will you strengthen the Rupee against the dollar?”

He also questioned the raised Income tax slab and said, “And this ₹7-lakh bracket for the middle-class section is okay and we welcome it but we should also again see it as an election-oriented budget because they are trying to target the middle class and that’s all! So, the whole debate about unemployment about poverty about GST inflation, falling of the rupee, petrol diesel costs, these have not been addressed in the budget at all.”

When asked about Rahul Gandhi joining the parliament, Syed replied, “After such a long yatra, obviously, there are a lot of things that a person realizes, experiences, embodies and learns. He has always been active in Parliament and he has been raising the issues of people both in Parliament and outside of it and I think for these points, he has been sincere and committed.”

For more political news in Hindi, subscribe to our newsletter.

[tezlivenews]

Petrol-Diesel Price Today : डीजल के दामों में लगी आग! चार दिनों में तीसरी बार हुआ महंगा, ये हैं नए रेट

Petrol-Diesel Price Today : डीजल के दामों में लगी आग! चार दिनों में तीसरी बार हुआ महंगा, ये हैं नए रेट

Petrol-Diesel Price : चार दिनों में तीसरी बार महंगा हुआ डीजल. नई दिल्ली: देश में एक बार फिर डीजल के दामों में बढ़ोतरी (Diesel Price hike) होने लगी है. पिछले चार दिनों में सोमवार यानी 27 सितंबर, 2021  को तीसरा दिन है, जब डीजल के दाम बढ़ाए गए हैं. आज ऑयल मार्केटिंग कंपनियों ने डीजल में एक बार फिर 25 से 27 पैसों की बढ़ोतरी की है, जिसके बाद दिल्ली में डीजल 89.07 रुपये प्रति लीटर से बढ़कर 89.32 रुपये…

[inventivaindia]

Petrol price can come down to Rs 75 if brought under GST, but there is a lack of political will: SBI Economists

Petrol price can come down to Rs 75 if brought under GST, but there is a lack of political will: SBI Economists

The country these days has been crying owing to the burden of increasing petrol prices under the garb of the crashing economy and severed unemployment due to the coronavirus pandemic. An increase in the prices of petrol is an initial indication of the upcoming inflation in the economy owing to the increased raw material costs in production and ultimately, increased price of goods and services,…

[journalistcafe]

पेट्रोल-डीजल के बढ़ते दामों से आम आदमी को मिलेगी राहत ? GST बैठक में सरकार ने लिया ये फैसला

पेट्रोल-डीजल के बढ़ते दामों से आम आदमी को मिलेगी राहत ? GST बैठक में सरकार ने लिया ये फैसला

पेट्रोल-डीजल की बढ़ती महंगाई ने आम जनता की कमर तोड़ रखी है। आम आदमी को फिलहाल पेट्रोल एवं डीजल की बढ़ती कीमतों से ​छुटकारा नहीं मिलने वाला है। बीते दिन लखनऊ में 45वें जीएसटी परिषद की अहम बैठक हुई। जीएसटी बैठक में लिया गया ये फैसला-  इस बैठक में पेट्रोल एवं डीजल को जीएसटी के दायरे में रखने के मामले में यह सहमति बनी कि अभी इसका समय नहीं आया है। वित्त मंत्री निर्मला सीतारमण ने एक प्रेस कॉन्फ्रेंस में…

[everythingshouldbereality]

Govt to bring petrol, diesel, ATF, gas under GST? No, says Sitharaman

Govt to bring petrol, diesel, ATF, gas under GST? No, says Sitharaman

Image Source : PTI FILE IMAGE/PTI Union Finance Minister Nirmala Sitharaman on Monday said that there is no proposal to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST).  “At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF and natural gas under GST,” Sitharaman said in a written reply to a question in the Lok…

[new-haryanvi-ragni]

Chorus Grows Around Bringing Petrol & Diesel Under GST as FM Sitharaman Puts Ball in State Courts

The 49th meeting of the GST Council is scheduled to be held here in the national capital on February 18, to be chaired by finance minister Sitharaman.  source https://zeenews.india.com/economy/chorus-grows-around-bringing-petrol-diesel-under-gst-as-fm-sitharaman-puts-ball-in-state-courts-2574012.html

[vilaspatelvlogs]

CEA KV Subramanian का बड़ा बयान, पेट्रोलियम उत्पाद जीएसटी में लाना रहेगा अच्छा

CEA KV Subramanian का बड़ा बयान, पेट्रोलियम उत्पाद जीएसटी में लाना रहेगा अच्छा

CEA KV Subramanian  पेट्रोल-डीजल की बढ़ती कीमतों से आम आदमी परेशान है. बार-बार ये मांग उठ रही है कि पेट्रोल-डीजल को जीएसटी के दायरे में लाया जाए. अब इस मांग का समर्थन मुख्य आर्थिक सलाहकार (Chief Economic Adviser) केवी सुब्रमण्यम (KV Subramanian) ने भी किया है.  जीएसटी के दायर में आ सकते हैं पेट्रोल-डीजल Source link

[tezlivenews]

Petrol-Diesel Price : कच्चा तेल उछला, यहां 17वें दिन भी नहीं बदले पेट्रोल-डीजल के दाम; चेक करें रेट

Petrol-Diesel Price : कच्चा तेल उछला, यहां 17वें दिन भी नहीं बदले पेट्रोल-डीजल के दाम; चेक करें रेट

Petrol-Diesel Price : 17 दिनों से नहीं बदले हैं पेट्रोल-डीजल के दाम. नई दिल्ली: पेट्रोल-डीजल के दामों में बुधवार यानी 22 सितंबर, 2021 को एक बार फिर पेट्रोल-डीजल के दाम स्थिर हैं. पिछले लगातार 17 दिनों से देश में ईंधन तेल के दामों में कोई बदलाव नहीं हुआ है. हालांकि, अंतरराष्ट्रीय बाजार में कच्चे तेल में एक बार फिर तेजी जरूर दर्ज हुई है. मंगलवार को अंतरराष्ट्रीय तेल मानक ब्रेंट क्रूड 0.96 प्रतिशत…

[eastern-eye]

According to the sources, bringing petrol and diesel within GST would be placed before the council for discussion in the light of the court’s words for the council.

[dailypioneer]

The Chamber of Trade and Industry (CTI) on Thursday asked the government to bring petrol and diesel under the ambit of GST to bring down the fuel rates, a day after prices of petrol in Delhi crossed the Rs 100 a litre-mark.

It also urged the central government to withdraw the increased excise duty that was introduced last year due to the COVID-19 pandemic.

"Crude oil was the cheapest in the last 16 years in 2020-21. During corona, between March and May, 2020, when crude oil became cheaper, the central government increased the excise duty on petrol by Rs 13/litre and diesel by Rs 16/litre," a statement from the CTI said.