Several states today opposed inclusion of petroleum products and liquor in the proposed Goods and Services Tax (GST) regime, saying that this will severely affect their revenues. This came out at the meeting of the Empowered Committee of State Finance Ministers that deliberated the revised draft of the Constitutional Amendment Bill for introduction of new indirect tax regime, among other things in New Delhi. Empowered Committee Chairman and Jammu and Kashmir Finance Minister A R Rather told reporters in New Delhi after the meeting that majority of the states have opposed bringing petroleum products and liquor in GST framework. He said, the Committee has not completed its discussion on the revised Bill and will try to conclude the discussion in the next meeting. In the revised draft of the Bill circulated to the states on September, the Centre had proposed inclusion ofpetroleum and liquor under GST. The revised Constitutional Amendment draft incorporates the views of the Parliamentary Standing Committee which had suggested minimum exclusion to ensure an integrated,comprehensive and seamless GST regime. The Constitution Amendment Bill was introduced in Parliament in 2010.
News On AIR | October 21, 2013 5:39 PM
Inclusion of petroleum products, liquor in proposed GST regime opposed