Impact of Goods & Services Tax (GST) on the Power Sector
India has recently kept sale/consumption of electricity out of the GST structure, thereby depriving the industry and consumers of the possible benefits of the GST. Though the tentative date for the GST implementation is 1st July 2017 (which may be extended to 1st October, 2017), we are still lagging behind in evolving a general consensus before its implementation. Inclusion of electricity under the GST bracket aims to remove the cascading effects of the taxation reaching to the end consumers. Also the complete benefits from this landmark reform can be passed onto the country’s economy.