Bringing petrol, diesel, aviation turbine fuel and natural gas under GST, and getting states to agree to that, will be a daunting task for the Modi government.
GST anniversary: A simplified tax regime has improved ease of doing business, but barriers remain: Entrepreneurs
The GST has helped organise the unorganised sector to a large extent, and, in many cases, has revolutionised entire industries. But, pain-points remain.
GST anniversary: P Chidambaram attacks Centre over 'flawed' tax system, says it raised burden on common man
Former finance minister P Chidambaram on Sunday attacked the government on the first anniversary of the Goods and Services Tax (GST) regime, claiming it had raised the tax burden on the common man and become a "bad word" among the people.
Goods and Services Tax (GST) was rolled out in the intervening night of 30 June and 1 July, last year, in a ceremony held in the Central Hall of Parliament.
The imposition of a restriction on availing of ITC is not in line with the basic underlying objective of GST
GST at one: Govt pleasantly surprised by political class rallying behind tax regime; admits technology let it down initially
Adhia went on to say that natural gas and aviation turbine fuel (ATF) might come under the GST in near future.
One year of GST: The tax regime is helping reduce shady realty transactions, but property prices aren’t down
The overall cost of property purchase will come down if stamp duty and registration fees are subsumed under the GST regime.