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No need to include petroleum in GST

At present, petroleum is an item, along with alcohol, which gives satisfaction to states that they have some fiscal federalism left with them

Petroleum | Goods and Services Tax | alcohol

Sukumar Mukhopadhyay 

Sukumar Mukhopadhyay

I find that it is no longer easy to get a subject to write about GST and its basic structure. The previous taxes, namely central excise, service tax, and sales tax, had so many problems such that there was no dearth of subjects for writing articles by me and other analysts. Now after GST, I find that there is no subject, except the number of rates, evasion, and input credit delays. That proves by implication that GST has solved many problems, such as defining manufacture, finding out the correct taxable event, determining what was intermediate goods, and all.



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First Published: Sun, May 31 2020. 19:46 IST