Saturday, July 01, 2017

GST rollout: Petrol, diesel, aviation fuel kept out, to be decided upon later, says Ashok Gajapati Raju

New Delhi: After the historic Goods and Services Tax (GST) became a reality, Union Civil Aviation Minister Ashok Gajapati Raju on Saturday said it will help in the economic rejuvenation of this country. Talking to ANI, Raju said the petroleum products such as petrol, diesel and aviation turbine fuel have been kept out of the GST as of now and the decision on it will be taken later.
“We have to keep the Civil Aviation Sector at the side for a moment because the states didn’t want the petroleum products and the intoxicants to come under the GST. So, there will be no advantages for this sector. It is good for the country. We are anticipating help in the economic rejuvenation of this country. There are advantages and disadvantages but if you look at the overall structure in the economy, it is good,” he added.
The biggest ever tax reform in the country’s history, the GST came into effect from midnight. The historic launch of GST was done at the Central Hall of Parliament where President Pranab Mukherjee and Prime Minister Narendra Modi launched the new regime by pressing the button. Speaking on the occasion, President Mukherjee said, launch of GST is a momentous occasion for all in the country. The President said, GST is a tribute to the maturity and wisdom of India’s democracy. Mr Mukherjee said, the new era in taxation, is the result of a broad consensus arrived at between the Centre and states.
01/07/17 ANI/Financial Express