Analysis of Implementation of GST on Petrol in India

Reshu Varshney, Amrita Sahu

2023

Abstract

Goods and Services Tax (GST) was implemented on July 1st, 2017 in India. Except for alcohol intended for human use, natural gas, petrol and its products, electricity, etc., all goods and services are subject to GST. The Central Government is considering bringing petrol and petroleum products into the purview of the GST regime. Currently, state tax is charged on petrol and petroleum-related products. The paper considers five states and studies a change in petrol prices pre and post-GST. The paper concludes that GST on petrol and petroleum products in India will reduce petrol prices and bring down inflation that will bring relief to the common man but will cause huge revenue loss for the mentioned above State Governments. In the paper, we have also discussed various tactics to combat this financial loss of the State Government.

Paper Citation

in Harvard Style

Varshney R. and Sahu A. (2023). Analysis of Implementation of GST on Petrol in India. In Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR; ISBN 978-989-758-687-3, SciTePress, pages 834-837. DOI: 10.5220/0012513000003792

in Bibtex Style

@conference{pamir23,
author={Reshu Varshney and Amrita Sahu},
title={Analysis of Implementation of GST on Petrol in India},
booktitle={Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR},
year={2023},
pages={834-837},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012513000003792},
isbn={978-989-758-687-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR
TI - Analysis of Implementation of GST on Petrol in India
SN - 978-989-758-687-3
AU - Varshney R.
AU - Sahu A.
PY - 2023
SP - 834
EP - 837
DO - 10.5220/0012513000003792
PB - SciTePress