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Within days of India signing the Paris Climate Treaty, finance minister Arun Jaitley on Friday said tax on environment unfriendly products will be "distinct" from normal rate of taxation in the forthcoming GST regime so as to boost funds for climate financing. "This is one of the proposals being discussed," Jaitley said ahead of the two-day BRICS Summit beginning here on Saturday.
The government is in the process of finalising rates for the Goods and Services Tax. 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".
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