Search results for: GST regime

According to a Morgan Stanley Report, it is revealed that after the introduction of Goods and Services Tax Regime (GST) has made a reduction in India’s Inc net income for the first quarter of 2017. Since five quarters, the net profit growth of the nation reduced by 11 percent.

According to the survey conducted by the road transport and highways ministry, it was found that after the introduction of Goods and Services Tax (GST) across the country, transport industry and truck owners will be saving approximately Rs 30,000 crore yearly.

For the Initial months, there has been a rise in inflation after the implementation of Goods and Services Tax from 1st July across the country. Just for the example, from past five months, the wholesale inflation has been continuously dropping and has enhanced to 1.88 percent in the month of July whereas retail inflation extended to 2.36 percent in July.

The Goods and Services Tax (GST) touted as the biggest tax reform since Independence came into effect from 1st July across the country.

Several renowned FMCG companies such as Dabur, Hindustan Unilever (HUL), Marico, Emami have performed both ‘well and hell’ in the first quarter after the implementation of GST while also, their sales have not been influenced due to destocking of GST, said industry experts.

Arjun Ram Meghwal, Minister of State for Finance and Corporate Affairs said that The Central Government is looking to reduce the tax slab rates in the newly implemented GST Regime.

The former Chief economic advisor of India, Mr Kaushik Basu said that there has been a drastically declining of inflation rate which is both good and bad.