Petroleum products to be out of GST for now, says CEA.

Petrol and other petroleum products will not be brought under the GST regime for some time after its roll
out , says Chief Economic Advisor, Arvind Subramanian. He said that the GST council will decide for how long these products will be out of the new tax regime.

India Inc* disappointed by delay in passage of GST bill.

The industry is disappointed by the delay in passage of GST bill.Delaying GST will hurt the nation, consumers and industry.The earlier it happens it is better, said Sanjay Kapoor,Former CEO(South Asia India)of Bharti Airtel.

Small car prices may come down on GST implementation.

The small car prices may come down significantly if the standard rate of 17-18% for most goods and services tax is accepted, which is recommended by the government appointed panel.
Manufacturers which are currently paying 30-50% tax on cars are likely to transfer benefits of lower taxes to consumers.

GST panel keeps tax rate 17-18%, CEA subramanian gives modi government chance to mollify congress.

The chief economic advisor arvind subramanian led panel submitted the report on GST regime to finance minister arun jaitley offering recommendations.
The panel kept the standard GST rate at 17-18% at which most products would be likely taxed.