WHY INDIA DEMANDS INCLUSION OF PETROLEUM PRODUCTS UNDER GST?
Journal Title: International Journal of Management, IT and Engineering - Year 2018, Vol 8, Issue 1
Abstract
Goods and Service Tax (GST) is a comprehensive tax levied on manufacturing, sales and consumption of goods and services at a national level, introduced in India from 1st July 2017 which subsumed all indirect taxes levied by the central and state governments. However, petroleum products such as Petroleum crude, natural gas, diesel and petrol were kept out of GST framework in order to preserve the revenue acquired by the state. The present study gives an overview of petroleum prices under GST wherein the central objective is to throw a light on three main aspects; to understand the current scenario of petroleum prices in India, reason for exclusion of petroleum products from GST and to analyze what if petroleum products come under GST.
Authors and Affiliations
Akhila Ibrahim K. K. And Shana Shimin P.
Keywords
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