Centre cuts GST rate to 5% on ethanol meant for blending-February 2024-www.financetom.com

Centre cuts GST rate to 5% on ethanol meant for blending

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Centre cuts GST rate to 5% on ethanol meant for blending

Dec 17, 2021 12:22 AM

To reduce reliance on imports, the government decreases the goods and services tax (GST) rate on ethanol for blending to 5 percent from 18 percent under the Ethanol Blended Petrol (EBP) Programme.

This programme aims to reduce imports on energy and boost agriculture, and also the government plans to reach 20 percent ethanol-blended petrol by FY26. So this move is positive for the consumption of ethanol-blended petrol.

Watch the accompanying video of CNBC-TV18’s Anshu Sharma for more details.

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