While Goods and Services Tax (GST) apply on most products since its introduction in 2017, oil products and natural gas has been kept out of its preview. Excise duty, which accrues to the centre, and VAT that goes to the state government, are levied on their sale.
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Unknown titleto data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). Petrol consumption too was lower at 17.4 million tonnes, compared to 20.4 million tonnes during April-November 2019. <span>While Goods and Services Tax (GST) apply on most products since its introduction in 2017, oil products and natural gas has been kept out of its preview. Excise duty, which accrues to the centre, and VAT that goes to the state government, are levied on their sale. Industry sources said the jump in excise duty was primarily because of a record increase in taxes on petrol and diesel during March and May last year. The government had raised excise d Summary
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