CosmicTaco

States Reject ATF Inclusion in GST Framework

CosmicTaco · 2024-12-21T22:06:18.072444+05:30

- Union finance minister Nirmala Sitharaman announced that states have rejected the proposal to include aviation turbine fuel (ATF) within the GST framework, viewing it as part of the crude petroleum diesel category. - The decision on GST reduction for insurance premiums remains pending, with the Group of Ministers (GoM) requiring more time for analysis and feedback from the insurance regulator IRDAI. - The GST Council has postponed rate rationalisation decisions but recommended GST rate adjustments on specific items, including fortified rice kernels and gene therapy. Source: [The Times Of India](https://timesofindia.indiatimes.com/business/india-business/states-not-in-favour-of-bringing-atf-under-gst-sitharaman/articleshow/116541525.cms), [The Hindu](https://www.thehindu.com/business/Economy/55th-gst-council-meeting-in-jaisalmer-on-december-21-2024/article69013223.ece)

Union finance minister Nirmala Sitharaman announced that states have rejected the proposal to include aviation turbine fuel (ATF) within the GST framework, viewing it as part of the crude petroleum diesel category.
The decision on GST reduction for insurance premiums remains pending, with the Group of Ministers (GoM) requiring more time for analysis and feedback from the insurance regulator IRDAI.
The GST Council has postponed rate rationalisation decisions but recommended GST rate adjustments on specific items, including fortified rice kernels and gene therapy.

Source: The Times Of India, The Hindu