The State government is not opposed to the Centre including petrol and diesel in the Goods and Services Tax (GST) regime after compensating the revenue loss, Finance Minister T.M. Thomas Isaac has said.

Dr. Isaac told reporters here on Wednesday that the Union government had agreed to compensate the loss incurred by States for five years if the tax collection post-GST did not touch 14%. Similarly, if the Centre agreed to compensate the revenue loss on bringing petrol and diesel within the ambit of the GST, the State government would not oppose it.

Read more at: http://www.thehindu.com/todays-paper/not-against-petrol-diesel-in-gst-regime-isaac/article23676986.ece

Free WordPress Themes, Free Android Games