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Exemptions under GST: Know more
The Bill excludes alcoholic liquor for human consumption from the purview of GST. Further, GST will apply to five petroleum products i.e. (a) petroleum crude, (b) high speed diesel, (c) motor spirit (petrol), (d) natural gas, and (e) aviation turbine fuel at a later date, to be decided by the GST Council. Petroleum products are inputs for several other goods and exempting them from the purview of
The Bill excludes alcoholic liquor for human consumption from the purview of GST. Further, GST will apply to five petroleum products i.e. (a) petroleum crude, (b) high speed diesel, (c) motor spirit (petrol), (d) natural gas, and (e) aviation turbine fuel at a later date, to be decided by the GST Council.
Petroleum products are inputs for several other goods and exempting them from the purview of GST could lead to cascading of taxes. This is because the input tax credit would no longer be available on such products. This disruption in the tax credit chain would distort the GST structure and could also lead to leakages of revenues.
The 13th Finance Commission and the Department of Revenue had recommended that all petroleum products and alcohol be brought under GST. The Commission had suggested that states could impose an additional levy on petroleum products and alcohol, in addition to GST.
source: prsindia.org/theprsblog
