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NADAR SARASWATHI COLLEGE OF ARTS AND

SCIENCE
THENI

Impact Of GST On Various Sectors In


India

Present by

R.BHAGWATHI SARADA
M.SATHYA
 Goods and services tax (GST), also called value-
added tax (VAT), is an after-sales tax imposed on
goods and services.

 It is a comprehensive indirect tax levied on the


manufacture, sale and consumption of goods and
services in a seamless national market.
 The main objective of the GST is to unify the taxes
levied by the center and the states into one uniform
rate.
 GST is a uniform indirect tax levied on goods and
services across a country.
 Many developed nations tax the manufacture, sale
and consumption of goods using a single,
comprehensive tax.
 GST will be a game changing reform for
Indian economy by developing a common
Indian market and reducing the cascading
effect of tax on the cost of goods and
services.
 The GST creates one national tax to replace
a slew of complex ones that differ from state
to state.
 Experts believes that GST may increase
administrative costs for e-commerce
companies as GST makes obligation to
collect Tax Collection at source, this may
disrupt the relationship between sellers and
e-commerce companies.

Impact on consumer- marginal increasing in


price
 Cross utilization of credit on goods and
services. But cannot change input credit on
most creative services has they fall under the
negative list.
 It may lower the average ticket price.

Impact on consumer- Marginal decrease in


price.
 Cross utilization of credits on goods and
services available under GST Stamp duty to
be continued on land and constructed.

Impact on consumer- increase in price with


stamp duty and GST both .
 Theconsumer durable and Fast Moving
Consumer Good(FMCG) sector of India
Excise duty ,VAT /CST, Entry tax to be
subsumed into GST.

Impact on consumer- price in decrease.


 Insurance policies: Life , health and motor
will begin to cost from April 2017 as taxes
will go up with respect to the GST.
Therefore, overall insurance policies could
become costlier.
Impact on consumers- Marginal increase in
price.
 sOnce GST council decided on tax rate and
may be given special tax rate for above
mentioned sectors ,its pricing will be
changes accordingly.
 Let GST bring down price and push up
prosperity and living standards of the people
of India.