Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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        LATEST NEWS UPDATES | How State budgets will fare if petrol, diesel are brought under GST -Rohan Abraham    </title>
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-The Hindu

While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.

At the time of writing, petrol..."/>
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-The Hindu

While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.

At the time of writing, petrol..." />
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                            <div align="justify">-The Hindu<br /><br /><em>While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.<br /></em><br />At the time of writing, petrol was retailing at Rs.82.48/litre in Mumbai, roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are now way lower than the $100 per barrel rate around which it was hovering in 2014.<br /><br />Extraneous factors like the production cuts enforced by the Organization of the Petroleum Exporting Countries (OPEC), and supply disruption owing to turmoil in West Asia have influenced the spike in fuel prices in India, but tax levies still constitute the biggest chunk of the retail price.<br /><br />The Minister for Petroleum and Natural Gas Dharmendra Pradhan made the case for brining petroleum products under the ambit of the Goods and Service Tax (GST) last month. In principle, a single tax rate for POL (Petroleum Oil Lubricant) products will be a far cry from the Byzantine tax structure in place today, wherein different commodities under the POL umbrella are taxed differently across the country.<br /><br />The spoils from the overall tax incidence on POL products are shared between the Centre and States, and the revenue from the Value Added Tax (VAT) collected by the States is often critical to balancing their budgets.<br /><br />Thus, while bringing petrol and diesel under the GST regime with a lower tax rate might give a temporary reprieve to customers, the impact on the health of State treasuries can be negative.<br /><br />At present, petrol, diesel, aviation turbine fuel (ATF), natural gas, and crude oil are outside the ambit of the GST, while liquefied petroleum gas (LPG), kerosene, and naphtha come under it. The GST rate chart for petroleum products has pegged naphtha, kerosene and LPG at the 18% slab. However, kerosene sold through the public distributions system (PDS) network, and LPG for domestic consumption attract only 5% tax.<br /><br />Please <a href="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece" title="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece">click here</a> to read more. <br /><br /><br /></div>                                                           
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                            <div align="justify">-The Hindu<br /><br /><em>While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.<br /></em><br />At the time of writing, petrol was retailing at Rs.82.48/litre in Mumbai, roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are now way lower than the $100 per barrel rate around which it was hovering in 2014.<br /><br />Extraneous factors like the production cuts enforced by the Organization of the Petroleum Exporting Countries (OPEC), and supply disruption owing to turmoil in West Asia have influenced the spike in fuel prices in India, but tax levies still constitute the biggest chunk of the retail price.<br /><br />The Minister for Petroleum and Natural Gas Dharmendra Pradhan made the case for brining petroleum products under the ambit of the Goods and Service Tax (GST) last month. In principle, a single tax rate for POL (Petroleum Oil Lubricant) products will be a far cry from the Byzantine tax structure in place today, wherein different commodities under the POL umbrella are taxed differently across the country.<br /><br />The spoils from the overall tax incidence on POL products are shared between the Centre and States, and the revenue from the Value Added Tax (VAT) collected by the States is often critical to balancing their budgets.<br /><br />Thus, while bringing petrol and diesel under the GST regime with a lower tax rate might give a temporary reprieve to customers, the impact on the health of State treasuries can be negative.<br /><br />At present, petrol, diesel, aviation turbine fuel (ATF), natural gas, and crude oil are outside the ambit of the GST, while liquefied petroleum gas (LPG), kerosene, and naphtha come under it. The GST rate chart for petroleum products has pegged naphtha, kerosene and LPG at the 18% slab. However, kerosene sold through the public distributions system (PDS) network, and LPG for domestic consumption attract only 5% tax.<br /><br />Please <a href="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece" title="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece">click here</a> to read more. <br /><br /><br /></div>                                                           
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While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.

At the time of writing, petrol..."/>
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While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.

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    <h1 class="cat-box-title">How State budgets will fare if petrol, diesel are brought under GST -Rohan Abraham</h1>
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                            <div align="justify">-The Hindu<br /><br /><em>While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue.<br /></em><br />At the time of writing, petrol was retailing at Rs.82.48/litre in Mumbai, roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are now way lower than the $100 per barrel rate around which it was hovering in 2014.<br /><br />Extraneous factors like the production cuts enforced by the Organization of the Petroleum Exporting Countries (OPEC), and supply disruption owing to turmoil in West Asia have influenced the spike in fuel prices in India, but tax levies still constitute the biggest chunk of the retail price.<br /><br />The Minister for Petroleum and Natural Gas Dharmendra Pradhan made the case for brining petroleum products under the ambit of the Goods and Service Tax (GST) last month. In principle, a single tax rate for POL (Petroleum Oil Lubricant) products will be a far cry from the Byzantine tax structure in place today, wherein different commodities under the POL umbrella are taxed differently across the country.<br /><br />The spoils from the overall tax incidence on POL products are shared between the Centre and States, and the revenue from the Value Added Tax (VAT) collected by the States is often critical to balancing their budgets.<br /><br />Thus, while bringing petrol and diesel under the GST regime with a lower tax rate might give a temporary reprieve to customers, the impact on the health of State treasuries can be negative.<br /><br />At present, petrol, diesel, aviation turbine fuel (ATF), natural gas, and crude oil are outside the ambit of the GST, while liquefied petroleum gas (LPG), kerosene, and naphtha come under it. The GST rate chart for petroleum products has pegged naphtha, kerosene and LPG at the 18% slab. However, kerosene sold through the public distributions system (PDS) network, and LPG for domestic consumption attract only 5% tax.<br /><br />Please <a href="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece" title="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece">click here</a> to read more. <br /><br /><br /></div>                                                           
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    <br><a href="http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece" class="re" target="_blank">The Hindu, 13 May, 2018, http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece</a><div class="clear"></div>
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Home हिन्दी

How State budgets will fare if petrol, diesel are brought under GST -Rohan Abraham

Published on May 14, 2018   Modified on May 14, 2018

-The Hindu While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue. At the time of writing, petrol was retailing at Rs.82.48/litre in Mumbai, roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are now way lower than the $100 per barrel rate around which it was hovering in 2014. Extraneous factors like the production cuts enforced by the Organization of the Petroleum Exporting Countries (OPEC), and supply disruption owing to turmoil in West Asia have influenced the spike in fuel prices in India, but tax levies still constitute the biggest chunk of the retail price. The Minister for Petroleum and Natural Gas Dharmendra Pradhan made the case for brining petroleum products under the ambit of the Goods and Service Tax (GST) last month. In principle, a single tax rate for POL (Petroleum Oil Lubricant) products will be a far cry from the Byzantine tax structure in place today, wherein different commodities under the POL umbrella are taxed differently across the country. The spoils from the overall tax incidence on POL products are shared between the Centre and States, and the revenue from the Value Added Tax (VAT) collected by the States is often critical to balancing their budgets. Thus, while bringing petrol and diesel under the GST regime with a lower tax rate might give a temporary reprieve to customers, the impact on the health of State treasuries can be negative. At present, petrol, diesel, aviation turbine fuel (ATF), natural gas, and crude oil are outside the ambit of the GST, while liquefied petroleum gas (LPG), kerosene, and naphtha come under it. The GST rate chart for petroleum products has pegged naphtha, kerosene and LPG at the 18% slab. However, kerosene sold through the public distributions system (PDS) network, and LPG for domestic consumption attract only 5% tax. Please click here to read more.

The Hindu, 13 May, 2018, http://www.thehindu.com/news/national/how-state-budgets-will-fare-if-petrol-diesel-are-brought-under-gst/article23871826.ece

Tagged with: Tax Revenue Goods and Services Tax Goods and Services Tax (GST)

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