As the GST reaches its final stages, the historic legislation promises to unify the tax system for the nation and increase the GDP by 2 per cent.
With the Rajya Sabha set to pass the long-awaited Goods and Services Tax (GST) Bill, country’s most transformative tax reform in decades is likely to affect in the common man in numerous ways. Click to read more
For the last couple of days, one of the major news I can read or hear relates to Goods and Services Tax ( GST). So what does it mean to me as a consumer? The FAQs released by the Ministry of Finance on 3rd Aug 2016 indicates that the consumer will benefit. So how does it work? Let us demystify the concept of GST and its related benefits to ultimate consumer. Click to read more
The Goods and Services Tax (GST) Bill, introduced in the Lok Sabha in December, 2014, is finally expected to be passed in the upcoming monsoon session, to be held from July 18. A decision on GST has been held off for a long time due to the Opposition’s disagreement in the Rajya Sabha, where the ruling government has no majority. Click to read more
Adi Godrej, the most forceful proponent of GST, thinks that the GDP growth rate will soon be in double digit with the unified tax system. A study done by NCAER that explores the impact on growth due to reduction in direct cost and cost reduction on capital inputs pegged the improvement in growth rates between 2 and 2.5 per cent. Others have estimated the Indian economic growth between 1.5 and 2 per cent faster under the new tax regime. Click to read more
Any changes in the policies change the economic conditions of a nation & that change the market sentiments towards companies & that drive the stock price up/down.
Same applies to recent Goods and Service Tax (GST) Bill.
Before we have some peek of how the stock market will be affected by this bill, we need to understand what? how? why? where? of GST Bill. Click to read more
We have been surrounded with a buzz on GST and its impact on various industries. Most of the discussions are happening around how GST will impact the way India does business, how various industries are going to benefit from the shift in tax regime and how this will optimise the GDP of India. Click to read more
Implementation of GST will affect various sectors differently. Grant Thornton offers a quick look at how some of them will fare once the new tax regime comes into effect
India moved a step closer to the implementation of the Goods and Services Tax (GST) regime, as its Parliament’s Upper House, the Rajya Sabha, approved The Constitution (122nd Amendment) Bill, 2014 with 203 votes in favour and none against. Click to read more
Amidst economic crisis across the globe, India has posed a beacon of hope with ambitious growth targets, supported by a bunch of strategic undertakings such as the Make in India and Digital India campaigns. The Goods and Services Tax (GST) is another such undertaking that is expected to provide the much needed stimulant for economic growth in India by transforming the existing base of indirect taxation towards the free flow of goods and services. GST is also expected to eliminate the cascading effect of taxes. India is projected to play an important role in the world economy in the years to come. The expectation of GST being introduced is high not only within the country, but also within neighboring countries and developed economies of the world. Click to read more
The successful implementation of GST will make a revolutionary impact on the economy of India. It might benefit some, and some might have to change their strategy to be successful. GST being one tax for Central and state will give rise to transparency in the functioning of the nation. It will lead to ease of business transactions and will reduce logistics costs across sectors. The impact of GST on various industries can be observed as under: Click to read more
As of now, there are over 15 – 20 different taxes that the consumer directly or indirectly pays for while consuming products like cars, cement, mobile phones and other electronics, etc. Like one of our former prime minister had admitted, only a small percentage of the benefit of the total spend of the government reaches the masses, in this case, the consumer is paying a price much higher than what he should be actually paying due to the leakages in the entire value chain. Click to read more
The Goods and Service Tax Bill passed recently by the Rajya Sabha and the Lok Sabha has been getting a lot of attention lately. Mainly because it is ‘The Next Big Thing’ after the Financial Reforms of 1991 in the history of India’s economy. We all know that the multiplicities of indirect taxes have driven up the prices of goods and services. Moreover, they make taxation complicated. Further, these taxes are different in each state and businesses end up paying tax on taxes. Click to read more
Given the noise Brexit had created, someone looking at the markets’ subsequent reaction would consider it a non-event, a minor blip at best. Global and Indian markets have taken the UK referendum in their stride. However, global markets have been moving much ahead of Indian markets. Over the last one month Nifty has moved by just over 7% while NASDAQ has increased by 11.87%, Hang Sang increased by 9.63%, German DAX by 11.27% and the UK’s FTSE by 12.39%. Click to read more
This week’s big news took shape in the form of the goods and services tax (GST) bill, which finally got the go ahead in the Rajya Sabha. In plain and simple terms, GST will be absorbing all the existing forms of taxes that consumers have to pay into one unified tax. Click to read more
The Lok Sabha has finally Passed the Goods and Services Tax Bill and it is expected to have a significant impact on every industry and every consumer. Apart from filling the loopholes of the current system, it is also aimed at boosting the Indian economy. This will be done by simplifying and unifying the indirect taxes for all states throughout India.
Let us have a look a few things that will be influenced by the GST. Click to read more
Finally, the ambitious goods and services tax (GST) could be a reality. The GST Bill is set to be tabled in the Rajya Sabha today. Hailed as the biggest tax reform since independence, the one-nation-one-tax regime will convert 29 states into a single market. It will be beneficial for the Indian economy on multiple counts, say economists. Click to read more
The much-awaited Goods and Service Tax (GST) Bill is set to be tabled today in Rajya Sabha. After many proposed changes, several regional parties have cleared the way for the passage of the Bill.
Last week, the Union Cabinet had cleared the changes in the Bill by dropping 1% additional tax on inter-state sales as proposed in the Bill. Congress had indicated its acceptance of government proposal. Click to read more