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Bring petroleum, real estate, electricity under GST: Congress

Ahead of the crucial goods and services tax (GST) Council meeting in Guwahati, ministers of the Congress pitched for ‘a major overhaul’ in the indirect tax reform, suggesting that the meeting on Friday may be a stormy affair. The four state finance ministers of the Congress demanded bringing real estate, petroleum, and electricity in the GST net, besides a significant reduction in the tax rate for commonly used items and easing the compliance burden. Reducing the 28 per cent GST basket to just 62 items is on the agenda of the Council meeting, besides easing the compliance burden for all taxpayers. Including real estate in the GST is also slated to be discussed in the day-long meeting, though at a conceptual stage. “The feeling one gets is t.....

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