The Rajya Sabha, on Wednesday, passed the 122nd Constitutional Amendment. This will pave way for introduction of Goods and Services Tax (GST) Bill in the parliament by November this year.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

India Inc is happy that the Bill, in works for the past 13 years, may finally see light of day by April 1, 2017.

Sachin Menon, Partner and Head, Indirect tax at KPMG India said, "With the passage of the bill in Rajya Sabha, the action will now shift to the corporate world. Due to the uncertainty on the fate of GST, many of the companies remain unprepared for the implementation of GST."

Telecom sectors market performance on ZeeBusiness:

Automobile sectors market performance on ZeeBusiness:

Consumer sectors market performance on ZeeBusiness: 

Pharma and Healthcare sectors market performance on ZeeBusiness:

Transport and Logistic sector market performance on ZeeBusiness:

Banking sector market performance on ZeeBusiness:

Other:

On E-commerce sector, Sreedhar Prasad, of KPMG in India said, GST will have a significant impact on the E-Commerce sector both E-Tailing and E-Services/ classifieds.”

Mohit Bahl on retail sector said, It is significantly impacted by GST. The sector is a consumption driven tax and the retail sector is the final touch point with the consumer. The impact is far-ranging, from local retailers to large corporations, each one of them will have to change their business models – where they source from, how they move goods, how they account for transactions, and tweak their IT systems to adapt to the change.”