After duty cut on imported wine, beer and spirits, the joint working group on Goods and Services Tax (GST) has been asked to recommend a new duty structure on alcohol and petroleum products besides other non-VAT items and exempted goods and services.
"The working group on GST will consider how exempted goods and services and non-VAT items such as alcohol and petroleum products might be treated under the GST regime, scheduled to be implemented from April 1, 2010," a senior finance ministry official said.
The group, which is meeting on Friday, is likely to submit a report on the framework of GST within four months to the Empowered Committee of State Finance Ministers. The panel, which comprises adviser to FM Parthasarathi Shome and state finance secretaries, has been asked to work out a model and recommend division of power for levy, collection and appropriation of revenue between the Centre and the states.
The group has been asked to keep the interests of North-Eastern states, agriculture, consumers, trade and industry in mind while making its recommendations.
Source: http://timesofindia.indiatimes.com/Govt_review_duties_on_petrol_alcohol/articleshow/2180030.cms
"The working group on GST will consider how exempted goods and services and non-VAT items such as alcohol and petroleum products might be treated under the GST regime, scheduled to be implemented from April 1, 2010," a senior finance ministry official said.
The group, which is meeting on Friday, is likely to submit a report on the framework of GST within four months to the Empowered Committee of State Finance Ministers. The panel, which comprises adviser to FM Parthasarathi Shome and state finance secretaries, has been asked to work out a model and recommend division of power for levy, collection and appropriation of revenue between the Centre and the states.
The group has been asked to keep the interests of North-Eastern states, agriculture, consumers, trade and industry in mind while making its recommendations.
Source: http://timesofindia.indiatimes.com/Govt_review_duties_on_petrol_alcohol/articleshow/2180030.cms