Electricity, Petroleum, Real estate and Alcohol could come under GST

Finance Minister Haseeb Ahmad Drabu Thursday said power, petroleum, real estate and liquor could be soon brought under the ambit of Goods and Services Tax (GST).
Presenting the J&K Budget 2018-19 in the Legislative Assembly, the finance minister said a committee of officers and professionals in the area of taxation and industry had been constituted to work out the framework for brining real estate, electricity, alcohol and petroleum under J&K GST.
He said the reason of brining electricity under the ambit of GST was that under the GST Input Tax Credit could be availed for electricity.
Drabu said this would boost the industrial sector and also encourage investment in power projects in the State.

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