Go through the Infographic depicting GST or Goods and Services tax,Features of GST and the sectors those have gained or not from passing of GST Bill :
For additional details on GST you can go through our popular blog post : GST or Goods and Services Tax in India – An Overview !
4 thoughts on “GST or Goods and Services Tax Infographic!”
Great infographic on GST, thank you again for writing.
Hi admin ! I read your articles everyday and I must say
you have very interesting posts here. Thanks for great info.
Hi Deven,It will be termed as GST and not VAT.
GST will have the following impact on garment sector :
1.Uniform tax rate throughout which is yet to be decided.
2.Goods movement from one state to other will become easy since a lot of taxes will be removed.
3.Manufacturing costs shall be reduced that will directly affect the garment industry.
4.Warehouse and logistic costs shall be reduced.
But,the rate of GST is the actual deciding factor,whether it is low or high.If it is high than the present rate of taxes on garments,it might negatively impact the garment sector.
What effect willbr on ready-made garment sector ?
As VAT will be in effect from 2017-2018
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