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GST Council recommends rate structure for Petroleum and Oil Sector

GST Council recommends rate structure for Petroleum and Oil Sector

New Delhi, Oct 11 (IBNS): The Union Ministry of Finance announced on Wednesday that to reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council has made several recommendations.