By: ICN Bureau
Last updated : December 20, 2022 9:27 pm
GST rate lowered to 5% from 18% on ethyl alcohol (ethanol) supplied to refineries for blending with petrol
The government has lowered Goods and Services Tax (GST) rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol Programme.
Rameswar Teli, Union Minister of State for Petroleum and Natural Gas, said this in a written reply to a question in the Lok Sabha last week. The decision was taken to promote ethanol blending, he added.
The procurement price of ethanol produced from sugarcane-based feedstocks like heavy molasses, sugarcane juice, sugar, sugar syrup is fixed by the Government and from food grain-based feed stocks by Public Sector Oil Marketing Companies on an annual basis.