More than a 3rd of state taxes to stay out of GST

While states and the Centre celebrate the shift to goods and services tax (GST), they have managed to keep at least one-third of the revenue outside the new regime and in the process denied consumers the benefit of a lower levy. A study based on the projected tax collection in 17 states by Motilal Oswal Securities in 2017-18 showed that alcohol, real estate and petroleum, oil & lubricants acco…