Government hints at how petrol, diesel might be taxed under GST

A peak tax rate of 28 per cent plus states levying some amount of local sales tax or VAT on  petrol and  diesel is likely to be the tax structure when the two auto fuels are covered under the  GST regime, a top government official said. The peak GST rate plus VAT will be equal to the present tax incidence, which is made up of excise duty, levied by the central government, and VAT ch…