No GST On Petrol, Diesel In Near Future As Centre, States Not In Favour

The Union finance ministry has not mooted any proposal to bring petrol and diesel or even natural gas under GST but took up the issue at the last GST Council meeting on August 4 based on media reports.

The Congress-led UPA-1 and UPA-2 governments delivered the highest decadal growth since Independence, former Finance Minister P Chidambaram said today while taking a dig at the current dispensation alleging that three finance ministers are handling the economy at present -a de-facto, a de-jure and an invisible one.

Prime Minister Narendra Modi today on the occasion of 72nd Independence Day said India will be the engine of growth for the world economy for the next three decades as the "sleeping elephant" has started to run on the back of structural reforms like GST.

Prime Minister Narendra Modi today said his government had the courage to take "bold decisions", like MSP for farmers and GST, putting India on a new trajectory unlike the previous regime which he alleged suffered from indecisiveness. He said Indias status in the world had increased manifold since 2014 when a BJP-led NDA came to power "because we have acumen to take b...

Congress president Rahul Gandhi on Tuesday met some corporate leaders here and he was believed to spoken on a range of issues, ranging from GST to job creation.

Congress President Rahul Gandhi today slammed the Goods and Services Tax as "Gabbar Singh Tax" and said that one slab GST would be implemented when the "Congress party-Government" comes to power at the Centre.

Finance Minister Piyush Goyal on Sunday said that many big nations don't have the courage to implement a tax reform like the Good and Services Tax (GST).

The IT backbone of the Goods and Services Tax was not given enough time to prepare a system to the satisfaction of the GSTN which led to the glitches in the implementation of the new tax regime, a top official said.

Karnataka BJP unit today urged the Centre to bring down the GST on pan masala to 5 per cent from the existing 18 per cent and also hike the minimum import price (MIP) of arecanut to Rs 300/kg to save domestic growers reeling under the crisis due to lower prices.

Finance Minister Piyush Goyal today said the capacity to slash the GST rates on more items would go up as Goods and Services Tax (GST) revenues and the compliance rate increases and the economy formalises.

The International Monetary Fund or IMF today 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 GSTN, and the National Payments Corporation of India (NPCI) will develop a system soon for the same.

Foreigners coming to India may not get GST refunds on goods purchased and carried back by them as the government has not invoked relevant provisions of the Integrated Goods and Services Tax Act yet, the Finance Ministry has said in reply to an RTI query.

The GST Council today cleared a proposal to offer cashbacks to consumers on trial basis for digital payments through Rupay cards, BHIM app and UPI system to promote cashless transactions in rural and semi-urban areas.