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Why Petrol & Diesel Won’t Be Included Under GST The most awaited decision of putting petrol and diesel under the GST slab may not be implemented anytime soon in India. The report comes after both central and state govt showed fear of losing a considerable amount of revenue and did not favor the one nation, one tax policy. GST was implemented in 2017 from July 1, completing one full year of ups and downs last month. Many industries received benefits from its implementation while others showed how they were badly hit by the change in tax policy. GST basically combines value added tax, service tax and excise duty, dividing products into four slabs of 5%, 12%, 18% and 28%. Most everyday products fall in the first two segments while availing services from most sources are taxed under the 18% slab. Automobile sector falls under the 28% segment, further getting higher tax rates by including additional cess on these base values. The biggest example is the above 4-meter car segment,...

India Post Payments Bank launched today India Post Payments Bank launch today: 10 things to know The government aims to link all the 1.55 lakh post offices to the India Post Payments Bank system by 31 December, 2018 New Delhi: Prime Minister Narendra Modi will launch India Post Payments Bank (IPPB) at Talkatora Stadium in New Delhi on Saturday. India Post Payments Bank will focus on providing banking and financial services to people in rural areas, by leveraging the reach of 1.55 lakh post office branches. “On the day of the launch, IPPB will have 650 branches and 3,250 access points spread across the country,” the government said in a statement. The government aims to link all the 1.55 lakh post offices to the India Post Payments Bank system by 31 December, 2018. 10 things to know about India Post Payments Bank 1) India Post Payments Bank has been set up under the Department of Posts, Ministry of Communication, with 100% equity owned by Government of India. 2) It started...