Question

What is IGS ? Why GST is not applied in Petroleum and alcohol ? ​

Answer 1

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IGS is The International GNSS Service.

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According to a GST Council source, who spoke to India Today on condition of anonymity, subsuming fuels in the new tax regime is not as easy as it is politically being made out to be. The problem is that the effective sales tax on fuel varies wildly from state to state. For instance, Maharashtra charges 40% on petrol while Andaman and Nicobar charges just 6% ad valorem. The effective sales tax on diesel ranges from 6% to 29%. This means that each hike in crude oil price brings more revenue to the states. The Centre charges a fixed amount of Rs 19.48 on per litre of petrol and Rs 15.33 on diesel across the country.

The total levies put together are nearly 60% said the source, adding that, "If the central levy and dealers commission is added, the amount goes up to nearly 100% over the real cost of fuel. Now, if petroleum is included in GST, then the Revenue Neutral Rate (RNR) could be as high as 100%".

Answer 2

Explanation:

The Initial Graphics Exchange Specification is a vendor-neutral file format that allows the digital exchange of information among computer-aided design systems.

Before GST, cigarettes and petroleum were under the purview of Central government. And liquor for human consumption has been under the purview of State government. ... All the above product are outside the purview of GST because both the governments want the arbitrary power to charge taxes on these products.

Alcohol was not brought under the purview of GST regime primarily due to two reasons: To ensure that the State Governments continue to have a strong inflow of revenue (other than what they get from GST). It's estimated that taxes on liquor and beer fetch the state governments nearly INR 90,000 crores annually.