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Politics

States to decide when petroleum products to be taxed under GST: Nirmala Sitharaman

KOLKATA: Union Finance Minister Nirmala Sitharaman on Sunday said that petrol and petroleum products are already under Goods and Services Tax (GST) and the states have to decide when they want them to be taxed under the regime. “Whenever the states are ready to bring in petroleum under the GST, another amendment will not be …

Politics

Centre to release another Rs 35,000 cr compensation to states soon

NEW DELHI: The Centre will soon release another Rs 35,000 crore to states to compensate for the revenue loss on account of GST rollout, an official said. Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on …