Impact of GST on the education sector

Currently, a host of services in the education and training sector are exempt from service tax. These services which are related to the delivery of education with an aim of obtaining a qualification are in the negative list under section 66D (1). The colleges and universities that are running degree programs and providing certificates recognised[…]

Impact of GST on Infrastructure Sector

Impact of GST on hotel and tourism industry

After getting the Presidential approval, the 122nd constitutional amendment bill is now entering the final phase. The final drafting of the CGST and IGST law is being done at the centre, while the states are concentrating on the SGST law. All the three laws are to be tabled in the winter session of the Parliament[…]

Impact of GST on Online Retail Sector

Reaction from online players as GST date approaches

As the mega tax reform in the form of the 122nd amendment to the Constitution of India is gathering pace the online players suddenly seem to have developed cold feet. While the government machinery is scaling up to achieve the GST implementation deadline of 1st April 2017, the online companies are coming out with excuses[…]

Sectors having positive Impact of GST

If you actively trade in the stock markets you would have already seen the decent run up that some of the stocks are having as the positive news on the GST is pouring in. These stocks actually belong to the sectors which are going to benefit with the GST becoming a reality in the near[…]

Impact of GST on Online Retail Sector

Will the GST help the cause of e-commerce taxation?

The growth of the e-commerce industry has been very significant in the past few years. The younger generation has caught on to the idea of online purchases rather than picking up the goods physically from the market. The benefits associated with the online purchase of goods and services like a wide choice, easy refund policy,[…]

GST Input Tax Credit- shifting of onus for Tax Deposit

It is widely believed that GST will streamline the taxation system and do away with the multiple types of taxes. The approach by the government agency is truly in that direction with an emphasis on avoidance of double taxation and facilitating seamless flow of credit. In today’s situation, the variety of tax variations like Octroi,[…]

Impact of GST on education sector

Education is one of the key sectors for any economy. The skill, training and education of a country’s manpower go a long way in deciding how the economy of that country will flourish. Education promotes understanding, creativity, out-of-box thinking, vision and productivity of people which helps in the advancement of a country. The more knowledgeable[…]

Next on GST’s radar is the gem and jewellery sector

The gems and jewellery sector plays an important role in Indian economy. From being a major foreign exchange earner to a significant contributor of country’s GDP (6-7%); it is one of the thrust areas of export in India. The government has given various fiscal incentives so as to boost the growth of the sector like[…]

Import and Export under Proposed GST

IMPORT DUTY: Current State:  Central Government levy taxes when an article or thing is brought into its territorial limits. The duty is called Basic Custom Duty. It is the tax charged on imports. Along with Basic Custom duty, Countervailing Duties u/s 3(1) and 3(5) are also charged to compensate for the losses of Excise Duties[…]

Impact of GST on Renewable energy

Proposed GST Regime shatters the growth prospects of Energy Sector, forcing the policy makers to reconsider their decision Renewable energy is referred to as the energy that depends on resources that can be naturally replenished like sunlight, wind, water and geothermal energy. With ever increasing demand of power by the growing economies, a need for[…]

Impact of GST on Online Retail Sector

Impact of GST on Online Retail or B2B Segment

Recently a fresh turmoil has been created in the GST arena with the states pitching in with a fresh requirement. They have sought the right to tax B2B or business to business transactions. They seem to be carried away by the boom in the digital economy and the heavy influx of online start-ups in the[…]

IMPACT OF GST ON PHARMACEUTICALS

Impact of GST on Pharmaceuticals

Indian pharmaceutical Industry stands out globally as the fourth largest producer of pharma products preceded by USA, Europe, Japan and China. The absolute advantage of IPI (Indian pharmaceutical Industry) is the cost cutting labor intensive production that brings down the overall cost of production ( Ex- Almost  half  the cost incurred by pharma Industry in[…]

Impact of GST on Import and Export

Impact of GST on Import and Export

India is the seventh largest economy in the world. It is the world’s fastest growing economy preceding the major economy of China. The basic tool to evaluate the growth of any country is Balance of Payment (BOP), which comprises the transactions in the Capital account, Current account and the reserves. Trade is considered as an[…]

Impact of GST on Auto Industry

Impact of GST on Auto Industry

The auto industry is an important indicator for the growth of the economy. It propels the manufacturing sector and also drives the economic well-being of the country. Currently the industry is an important contributor to the central excise duty, service tax, Value added tax and Central sales tax. All these are proposed to be subsumed[…]

Impact of GST on Infrastructure Sector

The infrastructure sector is of national importance and a barometer for the growth of the economy. The infrastructure projects are often given a fillip by a host of concessions and exemptions on the goods and services.  It has the railways, road, port, power and mining industry under its ambit. These industries are huge in themselves[…]

Impact of GST in Logistics Sector

Impact of GST in Logistics Sector

The transportation and logistics sector is likely to experience far reaching consequences as a result of the GST reform in India. It is likely to open up an entire gamut of opportunities to rationalize and reengineer transportation and logistics networks in India. The GST bill is going to give impetus to the development of logistics[…]

impact of gst on manufacturing sector

Impact of GST on Manufacturing sector

Manufacturing sector is about transforming materials into goods using machinery or Capital goods. Many people may use the term ‘Manufacturing’ for handicraft but it does not explain it at all. Indian manufacturing sector covers a small portion of the world manufacturing Industry. It is evident that the indian manufacturing sector is sluggish at present. Various[…]

IMPACT OF GST ON PHARMACEUTICALS

Impact of GST on Pharmaceutical Industry

One of the industries likely to derive the maximum benefit from the GST rollout is the pharmaceutical industry. This is one of the reasons that the industry has already started the preparation for embracing GST from six months ago. The Indian pharmaceutical industry is the 4th largest producer in the world in terms of volume[…]

Impact of GST on goods and services

The GST bill is expected to have wide ranging ramifications for the complicated taxation system in the country. It is likely to improve the country’s tax to GDP ratio and also inhibit inflation. However, the reform is likely to benefit the manufacturing sector but may make things difficult for the services sector. Though there are[…]

GST – Impact on Indian Economy

There is a lot of expectation from the Indian government with regard to the introduction of the Goods and Services Tax, or GST. Currently we have the Value Added Tax applicable only on the goods, and Service Tax that is imposed on select services. GST is an attempt to combine them under a common head.[…]