June 27, 2017 9:20 PM

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GST rollout may see initial problems but in long run would help cut tax evasion, check price rise: FM

Finance Minister Arun Jaitley onTuesday said the implementation of the GST may lead to some difficulty for the people initally but in the long run the new indirect tax regime would help cut tax evasion and check price rise. Mr Jaitley said this during an event organised by a private News Channel. He also said the GST Council will look at bringing real estate within the GST net by next year and revisit taxing of petroleum products under the new regime in one to two years.He said, while negotiating with the States on GST there were some tough issues like petroleum and potable alcohol on which states were unwilling to leave their taxation powers.The GST will be launched on 1st of next month which will subsume a host of indirect levies like excise, service tax and VAT.<br/>

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