Fuel under GST: Fears of a revenue hit are exaggerated
SummaryWith GST revenue on a sustained uptrend in India, this would be an opportune time to bring fuel under its ambit and correct the various economic problems this anomaly has been causing
GST revenue set another record this April, reaching ₹1.87 trillion, beating the mop-up of ₹1.67 trillion in April 2022. This increase in GST revenue reflects better compliance, besides higher economic activity. The best thing is that even in real terms, India’s GST growth is 8%. With GST revenue reaching normalcy, isn’t it an opportune time to bring oil under the GST regime?