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Union Budget 2025: Petrol And Diesel To Come Under GST?

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  Petrol and diesel are exempt from the Goods and Services Tax (GST) and are instead subject to a mixture of Value Added Tax (VAT), central excise duty, and central sales tax, which are imposed at varying rates by individual states.

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The article from OneIndia discusses the potential inclusion of petrol and diesel under the Goods and Services Tax (GST) regime in the upcoming Union Budget 2025. Currently, these fuels are subject to various state and central taxes, leading to high prices. The GST Council has been considering this move to streamline taxation, potentially reducing fuel prices by bringing them under a unified tax system. This change could benefit consumers by lowering costs, but it also involves complex negotiations between the central government and states due to the significant revenue implications. The article highlights the ongoing discussions, the economic rationale behind the move, and the potential impact on both consumers and state revenues.

Read the Full Oneindia Article at:
[ https://www.oneindia.com/business/union-budget-2025-petrol-and-diesel-to-come-under-gst-4057659.html ]