As per the annual budget of GOI, GST collection is estimated at 7.00 lakh crore and excise duty is estimated at 3.00 lakh crore. Now when you bring oil under GST indirectly appro. 1.50 lakh crore (50%) will be available for input credit hence governments collection will be 7.00-1.50 3.00 instead of 7.00 3.00 lakh crore. a reduction of 15% per anum. What everybody is not understanding is that GST was launched successfully the GOI has promised an annual 14% increase in collection for states and GOI will compensate then even if there is reduction in collecion. So if you bring oil under GST it will reduce tax collections then how will GOI guarantee 14% annual increase in state collection. We should be patient, wait for GST to stabilse and then slowly subsume one by one item into GST.
Re: It can be calibrated over 3-4 years not immediately
by achukatla basha on Sep 16, 2018 07:52 PM
gas near 900 petrol diesel nearing 100 mark its slap on indians for showing acche din i want my buray din pertrol was at 70 diesel 55-60
As per the annual budget of GOI, GST collection is estimated at 7.00 lakh crore and excise duty is estimated at 3.00 lakh crore. Now when you bring oil under GST indirectly appro. 1.50 lakh crore (50%) will be available for input credit hence governments collection will be 7.00-1.50 3.00 instead of 7.00 3.00 lakh crore. a reduction of 15% per anum. What everybody is not understanding is that GST was launched successfully the GOI has promised an annual 14% increase in collection for states and GOI will compensate then even if there is reduction in collecion. So if you bring oil under GST it will reduce tax collections then how will GOI guarantee 14% annual increase in state collection. We should be patient, wait for GST to stabilse and then slowly subsume one by one item into GST.
Re: It can be calibrated over 3-4 years not immediately
by paul theo on Sep 16, 2018 10:17 AM
POOR HAVE BECOME POORER UNDER BJP RULE, MORE FARMERS DIED DURING BJP RULE AND MORE OF OUR JAWANS DIED UNDER BJP RULE, THANKS TO THE BJP, MORE INDIANS SUFFERED UNDER THEM, WHILE HIS RICH FRIENDS BECAME RICHER.
Re: Re: It can be calibrated over 3-4 years not immediately
by achukatla basha on Sep 16, 2018 07:53 PM
hope indians teach them for acche din (which was actual very buray din for us)
People of India are fed-up why the Government of India as well as PM of India is not showing any interest to bring the Petrol and Diesel under the bracket of GST so as to there will not be any discrimination in India and these two items will be available in the Petrol bunks on the same price. Urgent action is needed by BJP Government is very much appreciated.
Re: Immediate action is needed to bring Petrol & Diesel u
by paul theo on Sep 16, 2018 10:18 AM
BE PREPARED TO CELEBRATE DIWALI WITH PETROL AT RS 100, GREAT ACHEIVEMENT BY THE BJP.
As per todays news in TOI, Maharashtra govt. has sent a proposal to Central govt. to bring oil prices(petrol and diesel) under GST. Now let us see who supports it in GST council meeting on 28th Sep 2018.
Only a economic manager can bring the runaway prices under control. The bane of the country is that it is the political managers who don't understand economics of the nation who run the economy. Ask Dr.Swamy the ex minister ways to bring the prices under control. Remove the legal politician out of this critical ministry. He is bringing the nation to its knees.
Now, the Government should wake up and take quick decision after calling for all CMs of the States under the purview of Government of India to decide the long pending issue to bring the Petrol and Diesel under GST umbrella so that the prices of these two items will be equal in all the States. Government of India should be detriment on this common issue for the public not to suffer and to face such agitations in near future.
