Tag: GST

India’s GST council in favor of dropping taxes on ethanol to 12%

India’s GST council in favor of dropping taxes on ethanol to 12%

July 11, 2018 |

In India, the goods and services tax (GST) ministerial panel is in favor of lowering the GST on ethanol to 12% from the current 18% in an effort to boost demand that would in turn help beleaguered sugar mills suffering under the weight of government-imposed sugarcane prices. The council is exploring a 5% levy on […]

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Indian biodiesel industry seeking 5% GST to bring back demand

Indian biodiesel industry seeking 5% GST to bring back demand

January 17, 2018 |

In India, the biodiesel producers association wants the Goods and Services tax on the fuel dropped to 5% from the current 18%, a level it says has significantly limited demand. The GST committee is set to meet Thursday when it will tackle issues such as biodiesel vehicles. Previous to the GST regime, biodiesel was sold […]

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India may lower GST on biodiesel vehicles

India may lower GST on biodiesel vehicles

January 9, 2018 |

In India, the biodiesel industry be able to breathe a sigh of relief come January 18 when the Goods and Services Tax Council is set to meet to discuss lowering GST for a number of categories including biodiesel vehicles. Those vehicles are currently taxed at 28%, a level seen a frustrating the growth of the […]

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Indian transport minister wants GST on biodiesel dropped to 5%

Indian transport minister wants GST on biodiesel dropped to 5%

August 10, 2017 |

In India, the transport minister plans to ask his finance counterpart to reduce the Goods and Services Tax on biodiesel to 5% from the current 18% in response to industry concerns that higher taxes could damage demand for the fuel. The government is seeking to reduce fossil fuel imports 10% by 2022 through a switch […]

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Indian transport minister seeks lower GST for alternative fuels

Indian transport minister seeks lower GST for alternative fuels

July 31, 2017 |

In India, the transport minister has written to his finance counterpart to ask for a reduction of the 18% goods and services tax recently applied to biofuels in an effort to promote their use and reduce fossil fuel imports by 10%. Though biodiesel, for example, wasn’t subject to excise tax or in some states even […]

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Indian OMCs holding off on buying biodiesel until GST situation on palm sterin clears up

Indian OMCs holding off on buying biodiesel until GST situation on palm sterin clears up

July 11, 2017 |

In India, the implementation of the Goods and Services Tax may not have had much impact on ethanol but for biodiesel, the new tax led to the cancelation of biodiesel purchases by oil marketing companies because of the higher price. If the price of palm sterin, the main feedstock for biodiesel in India, is lowered […]

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India’s new GST not seen pinching ethanol demand or impacting prices

India’s new GST not seen pinching ethanol demand or impacting prices

July 3, 2017 |

In India, the new 18% Goods and Services Tax on fuel ethanol that went into force on July 1 is not seen as impacting prices or demand very much as it combined excise tax, sales tax and interstate duty and other taxes into a single tax. Some states had higher taxes while others were lower, […]

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Indian biofuel industry worried GST will hit demand

Indian biofuel industry worried GST will hit demand

May 29, 2017 |

In India, the biofuels industry worries that the government’s new Goods and Services Tax of 18% on both biodiesel and ethanol with stymie the government’s parallel policy of bolstering biofuel consumption in order to reduce fossil fuel imports. Biodiesel has been exempt of excise tax for the past decade and even VAT exempt in some […]

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