After ruining the country’s small and medium enterprises through demonetisation and the Goods and Services Tax (GST), the central government is now hell-bent upon destroying Navaratna companies of the country.
Opposing the idea of bringing fuel products under the Goods and Services Tax (GST), three Chief Ministers from different political parties on Saturday said it would have a negative impact on their revenue collection.
Anger is brewing over the rising fuel prices. Farmers and industrialists, who have to bear the brunt of the price rise, have urged the government to take immediate steps to curb the soaring rates.
Union Minister Dharmendra Pradhan spoke to the media on fuel prices, reiterating his stand on bringing the fuels under the GST ambit. He said, “I want petrol and diesel to come under the ambit of GST. The GST Council should take a decision on this.”
Chief Minister Devendra Fadnavis on Sunday said that the state government is working on various proposals to provide relief from the rising fuel prices.
Petrol and diesel prices will be frozen for a day on Wednesday. Sources informed TOI that petrol will remain at Rs 86.72 per litre and diesel at Rs 75.74 per litre.
The finance ministry is said to be mulling bringing Aviation Turbine Fuel under Goods and Services Tax (GST) ambit. Following the financial crisis at Jet Airways and Air India, the aviation ministry had approached the finance ministry to bring the jet fuel under the GST,
Global locomotive manufacturers such as GE, Alstom and Bombardier, which have invested billions of dollars under the Make in India programme of the railways, have lobbied the finance ministry over challenges they are facing under the goods and services tax (GST) regime.
The IMF on Wednesday described the Goods and Services Tax (GST) as a “milestone reform” in India’s tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.
The first “green bus” project in the country, started at the instance of Union Transport Minister Nitin Gadkari here on December 6, 2016, has run into rough weather with a GST dispute arising between the operator, Scania India, and the Nagpur Municipal Corporation (NMC).