Search results for: GST impact

The GST council has been callings numerous meeting sessions from August starting from the day when parliament and both the house of states cleared the GST bill with the consent. In this same line-up, the GST council held a three-day session in Delhi for finalizing the GST rate.

GST regime has been on its way towards the implication, and in this journey, the dream work of UPA government caught a seizure. Large Taxpayer Units are now in the black zone and will be closed down as soon as the new taxation regime comes into force.

GST council pre-decided meeting turns out today for some crucial decision which will infiltrate the Indian economy and its financial structure from now onwards. The main agenda has turned out to be the final taxation rate on which the GST will be operational while other issues like compensation and service tax assessment will also be looked upon. All the state finance ministers will be a part of this significant meeting.

As earlier speculated, the GST can imprint various benefits over the nation’s economic structure. This time is it has proved to be well worth for the transportation and logistics industry. In a discussion with an imminent person of KPMG Advisory Services Rajeev Singh, Partner – Management Consulting was guiding over the matter of GST and its effects over various procedures currently running through the nation.

Finance Minister has cleared one more thing before the GST comes into existence that the tax rate would be proportionately higher for the products and items which are degradable for the environment and subsequently causing harm to it.

GST reform has been awaited for the next year and many folds of benefits are related to it, as by the research has given an indication. This time, GST is supposed to relax the warehousing parts of various companies owing big spaces in every state to reside their products. The reason behind every state agenda is to avoid the duplication of taxes while moving the goods.

The biggest taxation reform of GST India has been considered well enough in both the house of parliament which notes down its significance and its power to fetch the benefits of 8 percent of additional investments of capital stocks prevailing in various sectors of the economy.

The retail stores owned by the Tata group under the brand name of Croma, are yet to expand further with around 50 more stores in coming five years which will be taking the Infiniti Retail store chain to a number of 140.

GST would be giving much more emphasize on the 8 percent growth of India as speculated by S&P Global. The report said that India GST passage gives us additional conviction around our 8%-ish GDP growth forecast over the next few years.