Replacing power duty with GST to cut govt revenue by Rs 60,000 crore: Study

The imposition of goods and services tax (GST) on electricity could result in an annual revenue loss of over Rs 59,700 crore to the general government, even if the item is kept under the lowest tax slab of 5%, according to a study by Ernst & Young. This assumes the current system of electricity duties is done away with when GST is levied on electricity. The report, seen by FE, was prepare…