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The Goods and Service tax has been a very much talked about the topic from a long time and now the scope has to be seen towards the railway sector. It has to be studied the cause and effect of GST regime over the vast railway sector which engulfed almost India working project sector.
GST impact on solar products and panels have drastically increased due to the applicability of GST of 5 to 18 percent on the range of products.
The goods and services tax has finally ended up the online party for the smartphone customers. The gap between the online and retail prices of the smartphone is now reduced to a considerable level with still lesser price marks in comparison.
GST Impact on Indian Aviation Sector
Micro, small and medium enterprises (MSMEs) sector is much awaited to welcome the all mighty goods and service tax and also being in dilemma after what will be consequences of the same. The issues regarding the INR 1.5 crore limit on the levy of duty on MSMEs. While the same has been challenged to bring at a neutral level that of service tax.
Textile industries play a very important role in the development of the Indian economy with respect to GDP, Export promotion, employment, etc. It is the one of the oldest manufacturing industry in India. It is the second largest industry after agriculture which provides skilled and unskilled employment.
As GST is almost ready to implement from April 2017, every organization has started to make future strategies. Currently, Indian drugs are exported to more than 200 countries in the world. India is the largest provider of Generic drugs medicines globally and expected to expand further experiencing a boom in medical industry which will help in generating additional returns for the Industry.
The Media industry in India is known for growth at a faster rate. India is globally the fifth largest media arena. Penetration of smart-phones and the Digital India initiative have led to a spurt of activities in the digital sector.
The announced GST rates have certainly created a buzz over the market both domestic as well as internationally. The Council has decided for a multi-tiered structure of 0%, 5%, 12%, 18% and 28%. The fluctuations of tax rates are highly in flow throughout the nation.
