Key Sectors Await GST Inclusion Soon – Corpzo
The Goods and Services Tax (GST), hailed as one of India’s most significant tax reforms, continues to evolve as policymakers and industry experts debate the inclusion of more sectors under its ambit. Since its rollout in July 2017, GST has aimed to simplify indirect taxation by merging multiple state and central levies into a unified framework. However, several key sectors still operate outside GST, creating challenges in tax parity and uniformity. With discussions gaining momentum, industries and experts are eagerly awaiting the next wave of GST inclusions. Current Status of GST Framework At present, GST covers a wide range of goods and services across India. However, some crucial areas such as petroleum, electricity, alcohol for human consumption, and real estate remain outside the GST regime. These exclusions mean that businesses and consumers in these sectors continue to deal with state-level taxes, resulting in a fragmented taxation structure. The GST Council has co...