The wait for GST bill is finally over now as the bill has been approved in Rajya Sabha. The upper house on Wednesday approved the crucial 122nd constitutional amendment to turn bill into law.
Now do you know what impact it will have on the market?
The GST, is touted to be the biggest tax reform in India’s history since Independence. According to experts, it will boost GDP growth; it will help to bring efficiencies in logistics and will also eliminate a lot of paperwork.
Representational image, Its all about GST
Apart from it, GST will also improve margins and reduce capital locked in supply- chain segment as well.
It will also benefit consumers do you know how?
It will reduce the overall tax incidence. And with the competition between players will play a vital role and this will further help in reducing prices of the products. An increase in consumption will increase the demand and will boost the economic growth.
