The new Goods and Services Tax (GST) is a unified tax structure that was
implemented by the Government of India on 1 July 2017. The new regime
has ushered a significant change in taxation levels and rules associated
with it. On an average, we see the tax slab increasing from 15% to 18%
for most of the services. While this may translate to higher cost of
services to the end consumer, GST also presents a whole lot of
opportunities, pushing ease of business.
India is a strong services-led economy with the sector generating a
significant chunk of employment opportunities and contributing to the
GDP. It contributed around 66.1% of India’s Gross Value Added (GVA)
growth in 2015-16, is the biggest magnet for Foreign Direct Investment
(FDI), and an important net foreign exchange earner.
No comments:
Post a Comment