Higher oil,GST may boost states revenue by Rs 37,400cr in Fy19

Higher oil,GST may boost states revenue by Rs 37,400cr in Fy19

States are likely to gain an additional Rs 37,426 crore in revenue in the current fiscal on the back of surge in oil prices and better tax collection due to the GST, says a report. According to SBI Research, the impact of GST on tax revenue is minimal except in a few states.

GST won’t stop oil price fluctuations: Economic advisor

GST won’t stop oil price fluctuations: Economic advisor

The inclusion of petroleum products under the Goods and Services Tax (GST) will not prevent price fluctuations as India is a massive importer of crude and domestic prices will reflect global price movements, said Sanjeev Sanyal (in pic), principal economic advisor in the finance ministry.

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