Union Finance Minister Nirmala Sitharaman chairs the 55th meeting of the GST Council, in Jaisalmer, on December 21, 2024. | Photo Credit: PTI
Finance Minister Nirmala Sitharaman on Saturday (December 21, 2024) said that States did not agree on bringing aviation turbine fuel under the ambit of Goods and Services Tax.
“States did not feel comfortable. They didn’t want the ATF because they saw it as part of the crude petroleum diesel basket, and therefore they said that it alone cannot be taken out, and therefore that continues to remain where it is today,” she said while briefing media on the outcome of 55th GST Council meeting in Jaisalmer.
Besides, she said, no decision was taken with regard to reduction in GST on insurance premiums as the Group of Ministers (GoM) needed more time to study the issue.
Many inputs are awaited including the one from insurance regulator IRDAI, she said.
She further said that the GST Council has also deferred the decision with regard to rate rationalisation as more time is required by the GoM for a comprehensive study.
However, the Council made suggestions with regard to GST rate revision on various items including fortified rice kernels and gene therapy.
Published – December 21, 2024 08:11 pm IST
