The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.
Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
India will release five million barrels of crude oil from its strategic reserves in line with other major global energy consumers including US, Japan, South Korea and China, a move aimed at cooling global oil prices. The US is expected to release 50 million barrels of crude oil from its reserves. This was informed by the Minister of State for Petroleum Rameswar Teli in Rajya
Bitcoin’s recognition in India does not seem to have any headway. Finance Minister Nirmala Sitharaman recently told Lok Sabha that there is currently no proposal to recognise Bitcoin in the country.
FM Nirmala Sitharaman makes BIG statement on Bitcoin amid reports of cryptocurrency ban - Finance Minister Nirmala Sitharaman also informed the House that the government does not collect data on Bitcoin transactions.