India

Petrol-diesel ‘GST’ out of range!

Union Finance Minister Nirmala Sitharaman on Friday said that petrol-diesel would not be brought under the Goods and Services Tax (GST) scheme immediately. The Finance Minister also said that this was unanimously rejected in the 45th meeting of the GST Council.

The Kerala High Court had sought the opinion of the GST Council on the issue of bringing petroleum products under GST. That was the only reason the issue came up on the agenda of the meeting. Explaining this, Sitharaman said, “The matter was taken up for consideration due to the direction of the court and the members clearly opposed the introduction of petrol-diesel under GST.”

About 18 months later, the GST Council met in Lucknow. The apex court, comprising state finance ministers, was expected to take a decision that would bring relief to the general public and bring petrol-diesel under GST and reduce its rates significantly. However, at present, it is not possible to bring petroleum products under GST, all the members of the council agreed. The decision will also be communicated to the Kerala High Court, Sitharaman said.

Imported Life Saving Drugs Tax Free

In addition to Corona, imported and expensive life-saving drugs Zologensma and Viltetso are fully exempt from GST. The concession on Corona drugs is being extended till December 31, 2021, said Sitharaman. The concession was due to expire on September 30.

It was earlier decided to exempt imported amphetamine-B capsules on mucomycosis, as well as imported respirators and other materials for the treatment of corona patients. This tax exemption will also be applicable till December 31.

Other decisions

  • Training programs that are funded by the government at 75 per cent or more are exempt from GST.
  • The national charges levied on freight vehicles as a license are exempt from GST.
  • GST on retro-fitment kits in vehicles for persons with disabilities reduced by 5%.
  • GST on biodiesel (supplied to oil marketing companies for blending with diesel) ranges from 12 per cent to 8 per cent.
  • GST rate on rice used in Integrated Child Development Services Schemes from 18 per cent to 5 per cent.
  • Some decisions have also been taken to import aircraft and other items on lease basis, so as to get relief from double taxation.
  • GST rate on some spare parts required by railways has been increased from 12 per cent to 18 per cent.

Expensive service on Swiggy-Zomato

The GST Council has started levying tax on the services of popular food distribution platforms like ‘Swiggy’ and ‘Zomato’. As a result, consumers will now have to pay more for the food they get. Swiggy-Zomato will now have to pay 5 per cent tax instead of the restaurants from which these services used to procure and distribute food.

Rise again? New Delhi: With the rise in retail prices of petrol and diesel internationally, there are signs of rising prices in the country once again. Petrol and diesel prices have not risen in the last 12 days. Now that prices have risen internationally, it is likely to rise again. At present, petrol and diesel prices are ४ 4 to ६ 6 per pimp higher than in August.

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