GST Impact on Indian Economy | How GST affects India GST has changed the taxation regime in India. Let's look at GST , Impact, Examples and industr-wise breakdown of how this tax regime will work.

By | January 21st, 2019|Categories: GST Impact|Tags: , , , , , , , , , , , , , , , |

GST: Brief Introduction GST, or the Goods and Services Tax is a unified tax which is levied on the value added for the delivery of goods and services. The implementation of the new taxation system was put in place on the 1st of July, 2017. However, it might be interesting to note that the proposal for [...]

Faq’s on Drugs and Pharmaceuticals under GST

By | September 19th, 2017|Categories: GST Impact|

Introduction The Indian pharmaceutical industry or Drugs and Pharmaecituals Industry is one of the leading industries globally as it is the principal supplier of generic drugs all over the world. Almost 80% of all AIDS  drug is produced by India. For all the developing nations, The UN provided licenses to six Indian pharmaceutical labs to make [...]

Faq’s on E commerce under GST

By | September 15th, 2017|Categories: GST, GST Impact|

Introduction The day GST came into the market, it has stormed all the existing sectors in India. By dismantling all the inter-state barriers with respect to trade, the single biggest indirect tax regime kicked into force. It also had huge imapct on e-commerce industry in India. Electronic commerce or e-commerce (EC) means the supply of goods and [...]

Mining and Mineral sector under GST

By | September 10th, 2017|Categories: GST, GST Impact|

Introduction The minerals and mining sector in India is governed by the Mines Act, 1952. It is also governed by Mines and Minerals Development and Regulation Act (MMDR), 1957. Under the proposed GST regime, all the key Indirect tax legislations would be subsumed (except for few taxes such as duty on Electricity, Royalty on the extraction [...]

Procedure and Criteria for TDS under GST

By | July 26th, 2017|Categories: GST, GST Impact, GST Law, GST News, GST Registration, GST Return Filing|

TDS under GST are introduced in order to regulate unorganized sectors in the market. We are providing all the information related to the procedure and criteria for TDS under GST. It may be noted that as per the notification issued by the government on 26th June 2017, the provisions of TDS has been put on hold [...]

Impact of GST on Transport Sector

By | June 20th, 2017|Categories: GST, GST Impact, GST News, GST Rate Change|

Transport Sector Taxation on transport sector at a national level will result in more efficient cross-state transportation less paperwork for road transporters bringing down logistics costs Presently, all 29 states collect taxes at different rates on goods that move across their borders. As a result, tax on freight is collected multiple times. Also, there are long [...]

Impact of GST on Tourism Sector

By | June 19th, 2017|Categories: GST, GST Impact, GST Rate Change|

Introduction Total contribution by travel and tourism sector to India's GDP is expected to increase from US$ 136.3 billion in 2015 to US$ 275.2 billion in 2025. The growth rate of the tourism sector of Indian economy was recorded as 17.3%  in the previous year. The foreign exchange earned by tourism sector is worth 21,828 crore rupees. According [...]

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Impact of GST on Warehousing Sector

By | June 19th, 2017|Categories: GST Impact|

Warehousing Sector Logistics players under the Warehousing sector in India have been maintaining multiple warehouses across states to avoid CST Levy and State Entry Taxes. The location of warehouse is chosen to minimize the cost of delivery for both the Company and the Customer. Most of these warehouses are operating below their capacity and thus adding [...]

Tax rates under GST

By | June 19th, 2017|Categories: GST, GST Impact, GST Law, GST News, GST Rate Change, GST Return Filing, HSN codes|

It's only less than a month left until Goods and Service Tax (GST) sees the light of the day. India's biggest tax overhaul crossed its final hurdle last week when GST Council agreed tax rate for gold and silver jewellery at 3%. Here is a summary of the GST tax rate and their impact on Indian Consumers. List of [...]

Impact of GST on Hotel Industry

By | June 17th, 2017|Categories: GST Impact|

Introduction The domestic hotel industry is estimated to be around $1.8 billion. There was a huge increase in the hotel industry after the introduction of the system of online booking. India ranks 18th on the list of business travel and it will be in top 5 very soon according to The World Travel and Tourism Council. [...]