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India To Exempt Tobacco, Alcohol, Petro-Products From New TaxNEW DELHI -(Dow Jones)- India plans to exempt tobacco, alcohol and petro- products from a proposed goods and services tax, or GST, and compensate provinces for lost revenue after the states roll out the new tax, a government consultation paper on the tax said Tuesday. The government plans to impose the new tax on all imports, but exempt exports as GST will replace excise duties, the paper said. -By Mukesh Jagota, Dow Jones Newswires; 91-11-43563301 abhrajit.gangopadhyay@ dowjones.com (END) Dow Jones Newswires 11-10-090601ET Copyright (c) 2009 Dow Jones & Company, Inc. |
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