<h1>GST Launch on July 1: Expected Short-Term Challenges, Long-Term Benefits in Reducing Tax Evasion and Controlling Prices.</h1> The Finance Minister announced that the rollout of the Goods and Services Tax (GST) on July 1 may initially cause difficulties but is expected to reduce tax evasion and control price increases in the long term. The GST will replace various indirect taxes such as excise and VAT, although items like crude oil and natural gas will initially remain outside its scope. The GST Council plans to consider including real estate and revisiting the taxation of petroleum products within 1-2 years. Despite challenges, the minister emphasized the potential benefits of the new tax regime.