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  3. Panel on GST to discuss issue of liquor and petroleum products taxation

Panel on GST to discuss issue of liquor and petroleum products taxation

21 Oct 2013 Evaluate

An Empowered Committee of State Finance Ministers, in its scheduled meeting will deliberate the contentious issues concerning to taxation of liquor and petroleum products. While the centre wants that liquor and petroleum products should come under the GST and in a revised draft of the Constitution Amendment Bill circulated to the states last month had proposed inclusion of petroleum and liquor under GST, the states are keen to retain their power to tax these products as they are major sources of their revenue.

The issue has already been discussed by a sub-committee of officials, set up to study the recommendations of Parliamentary Standing Committee and the revised draft of the Constitutional Amendment Bill and suggest ways for reconciling different positions. The report of the sub-committee headed by Jammu & Kashmir Finance Minister A R Rather, will now be placed before the Ministers for discussion.

The government circulated the revised draft after incorporating the proposals of the standing committee of finance, headed by Bharatiya Janata Party leader Yashwant Sinha, which had suggested minimum exclusion to ensure an integrated, comprehensive and seamless GST regime. The industry too has been demanding that no item should be kept out of GST to ensure that there are no breaks in the supply chain.

Roll-out of GST, which aims to unify the country into a common market to remove barriers in the movement of goods across states and empowering the Centre and States to simultaneously tax supply of goods and services, had missed several deadlines due to differences between states and the Centre over contentious issue of CST compensation and design of the GST structure.

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