Within days of India signing the Paris Climate Treaty, Finance Minister Arun Jaitley today said tax on environment unfriendly products will be “distinct” from others in the forthcoming GST regime so as to boost funds for climate financing.
“The indirect tax regime that we are planning, the rate of taxation on such products which are going to be environmentally unfriendly would be distinct from the normal rate of taxation. This is one of the proposals being discussed,” Jaitley said ahead of the two-day BRICS Summit beginning here tomorrow.
The country has taxed coal and petroleum products in the past as well, Jaitley said, adding that “resources have to be mobilised from all sources for climate financing so that sustainable development goals can be achieved in a much more concrete manner”.
He said large commitment from…
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