Amid an increased demand from airlines for inclusion of Aviation Turbine Fuel (ATF) in the GST tax regime, Civil Aviation Secretary R N Choubey on Tuesday said the matter would be taken up with the finance ministry as jet fuel prices have risen 40 per cent since January, 2017.
“If ATF is brought under the GST regime, we can get input tax credit,” he told reporters here, adding that he would meet Revenue Secretary Hashmukh Adhia in this regard.
Choubey also cited the example of bunker oil, which was taken out of the oil basket and brought under the ambit of GST. Click to read more
A FEDERAL form of government is a balancing act between the centripetal force of an integrated economy and monetary union and the centrifugal force of preserving the ethnic and regional identities. India has a quasi-federal constitution with many centralising economic institutions, such as the former Planning Commission, the Finance Commission, foreign trade policy, the Union government controlling all the major and elastic tax sources, and many more. Click to read more
The aviation ministry is pushing for inclusion of aviation turbine fuel in Goods and Services Tax (GST). Jet fuel prices have risen 40 per cent from January 2017 to this month.
Aviation secretary R N Choubey will meet revenue secretary on Tuesday to make this request as higher jet fuel prices are impacting airlines — and in turn passengers through rising fares — dearly.
The aviation ministry will cite the example of bunker oil which was carved out of the oil basket to be put in GST. Click to read more
The announcement last week by the Malaysian government that it would be scrapping GST got some people in India talking that we could also do the same as our GST had borrowed many concepts from the Malaysian model. In fact, the only concept that India has borrowed from the Malaysian GST system is the anti-profiteering provision that will gradually fade into oblivion. Click to read more
The Congress today attacked the Modi government over rising petrol and diesel prices, and demanded they be brought under the ambit of the Goods and Services Tax (GST).
The Congress also demanded reduction in excise duties on petroleum products imposed by the Centre and the VAT by various state governments.
Congress leader Pawan Khera claimed that there has been an increase of 211.7 per cent in the excise duty on petrol since May 2014, when “Raja Narendra Modi” took over as prime minister. Click to read more
The goods and services tax (GST) regime, touted as the biggest indirect tax reform since Independence, was rolled out in the third year of the NDA government. The transition was marked by initial hiccups, especially on the tech platform supporting the indirect tax. The government responded by suspending some of the initially envisaged features, including GSTR-2 and GSTR-3 forms, reverse charge mechanism, invoice matching and simultaneous roll-out of e-way bill with the GST launch date. Click to read more
Even after 10 months of the Goods and Services Tax (GST) rollout, tax authorities are not in a position to tell which sector or item generates higher revenue and which one lags. The reason for this is the Tax Department has no item or sector-wise tax collection details under the biggest tax reform.
Meanwhile, officials under the Central Board of Indirect Taxes and Custom (CBIC, previously known as Central Board of Excise and Custom or CBEC) have started preliminary work on developing software to record item-wise details under GST. Click to read more
Petitioners of Right To Information (RTI) Act are now being asked to pay Goods and Service Tax (GST) for seeking copies of the documents. This came to light when an activist was asked to pay 18 percent GST — Rs 180 to get photocopy of documents at the cost of Rs 1,000 — by Tamil Nadu Housing Board.
In reply to V Gopalakrishnan, a Chennai-based petitioner who sought the details under the RTI, the Public Information Officer (PIO) of Tamil Nadu Housing Board (TNHB) asked him to pay the amount with GST for getting the document. He wanted details of a land in K K Nagar in Chennai and filed a RTI petition with the Board on April 10. Click to read more
State-owned fuel retailer Hindustan Petroleum Corporation Ltd. said bringing petroleum products under the Goods and Services Tax will provide a long-term solution even as oil marketers increased the prices of petrol and diesel for the tenth straight day in line with rising crude prices.
“We need something to reduce the taxation,” HPCL’s Managing Director MK Surana told reporters at a press conference today, adding that a long-term solution lies in bringing petroleum products under the the new indirect tax regime. “GST will also rationalise the taxation structure…the GST Council has to do it.” Click to read more