Finance Minister Nirmala Sitharaman on Saturday said states are not in favor of bringing jet fuel under Goods and Services Tax.
They didn’t want the ATF because they saw it as part of the crude petroleum diesel basket, that’s why they said it can’t be released alone, so that’s still going on where it is,” he said while talking to the media. the outcome of the 55th meeting of the GST Council here.
Apart from that, he said that no decision has been taken regarding the reduction of GST on insurance premiums as the Group of Ministers (Go) needs more time to study the matter.
More contributions are still awaited including the one from the insurance regulator IRDAI, he said.
He further said that the GST Council has also postponed the decision regarding the restructuring of the standards as more time is needed by the GoM to conduct a thorough study.
However, the Council has made suggestions regarding the revision of the GST rate on various items including fortified rice grains and gene therapy.
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