Market Report

India: Goods and Services Tax has hit manufacturing

| Editor: Franziska Breunig

Indian companies feel implementation of GST is challenging.
Indian companies feel implementation of GST is challenging. (Source: Depositphotos.com)

Various companies feel implementation of GST is challenging and manufacturing is the most affected sector, according to a recent survey.

More than 31 per cent of the chief financial officers (CFOs) from various companies feel implementation of GST is challenging and manufacturing is the most affected sector, according to a recent survey. Further, over 54 per cent CFOs believe that the impact of demonetisation has been neutral, while 56 per cent are “highly optimistic” of the country's macro-economic growth in the next 4-5 years, the Deloitte Annual CFO survey said.

“The country remains optimistic about economic prospects, as it remains buoyant post demonetisation and amongst global uncertainties,” the survey report noted. Given the macro-economic trends that point to a possible global growth revival, there will be opportunities to increase exports and investment which have been a concern for the past few quarters, it said.

India: Goods and Services Tax for one market

Market Overview

India: Goods and Services Tax for one market

07/12/2017 - Goods and Services Tax (GST) is one indirect tax for the whole nation, which will make India one unified common market. The Indian Government claims it to be the biggest tax reform since independence. read...

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