Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
10,829.3588.0
Stock Analysis, IPO, Mutual Funds, Bonds & More
GST

GST Council may weigh GST on petroleum goods at July 25 meet

The council is expected to take up the proposal on rate cut on electric vehicles from 12% to 5%.

, ET Now|
Jul 22, 2019, 03.49 PM IST
0Comments
Getty Images
Petrol-Pump-Getty-1200
The GST Council appears to have taken cognisance of the long-standing demand to bring petroleum goods under the GST ambit.

Sources told ETNow that the council is likely to discuss bringing petroleum products under GST in its next meeting on Thursday, July 25. While a concrete decision is not expected soon, it will certainly set the ball rolling.

Besides having a discussion on bringing petroleum products under GST ambit, the council is expected to take up the proposal on rate cut on electric vehicles from 12 per cent to 5 per cent and lower levy on on EV chargers as well as on solar-powered equipment.

The proposals for rate cut on EVs, EV chargers were sent to the fitment committee during last meeting. The council is also likely to discuss GST exemption on hiring electric buses besides looking into the issues being faced by taxpayers in filing annual returns.

The council may also discuss issues faced by small businesses from the services space who want to opt for the composite scheme.
0Comments

Also Read

Petrol, diesel become cheaper in Delhi than UP

UP government increases VAT on petrol, diesel

Polls ignite petrol, diesel sales

Niti’s methanol plan for petrol vehicles on the backburner

Ethanol-blending in petrol rises to record 6.2%

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service