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While acknowledging the long-term positive impact of GST, Govind Shrikhande, managing director at Shoppers Stop expects to see some short-term pain until regulations and processes settle down.
As a retailer, we mainly sell national and international brands, hence we are awaiting announcements from the respective brands on the retail price direction and overall impact,” Shrikhande said in an email statement.
GST A Game Changer, Says Naveen Jindal
Naveen Jindal, chairman of JSPL expects the 'one nation, one tax’ regime to be a game changer for the economy.
GST should bring seamless credit of all taxes, efficiency & an equitable platform...There ought to be an overall +ve impact on the industry.
Maruti Suzuki Passes Entire GST Benefit To Customers
The country’s largest car maker said it has passed on the entire GST benefit to customers, as the ex-showroom prices of some of its models drop as much as 3 percent.
However, it said the price of its Smart Hybrid Ciaz and Ertiga Diesel has increased as it gets taxed at a higher rate, according to the auto maker’s press release.
The new prices are effective from July 1.
Eating Out Becomes More Expensive
Heads-up! Your morning breakfast just got expensive. Having a masala dosa with the obligatory sambar will cost at least 10 percent more than what it would in the pre-GST era at Bengaluru’s popular South-Indian eatery Adyar Ananda Bhavan Sweets.
Mobile Phones To Get More Expensive
The government imposed a 10 percent basic customs duty on mobile phones including some accessories in a bid to encourage phone makers to produce locally.
10% Customs Duty On:
Cellular mobile phones
Microphone and Receiver
Printed circuit board assembly (PCBA)
Connectors Display Assembly
Cover Glass Assembly
Vibrator Motor and Ringer
India Launches Historic Tax Reform
President Mukherjee Calls GST Launch A Moment Of Personal Satisfaction
GST Is Result Of A Collective Effort, Says PM Modi
Revenue Neutrality And Lesser Burden Are Main Aims Of GST, Says Arun Jaitley
The President Has Arrived
'GST Bhavan': Central Excise Building In Mumbai Renamed
Ratan Tata Arrives At The Parliament
Drama Outside Parliament
Who's Coming (And Not Coming) For The GST Launch?
Parliament Decked Up For Midnight Launch
Anand Mahindra Geared For GST
GST Council Meet Ends; Fertiliser Rates Revised
Nestle Will Cut Prices On Stock Manufactured In July
Arvind Subramanian Flags Two Challenges After GST Implementation
Goa Abolishes Entry Tax On Vehicles
Dabur Sees Short-Term Hit On Sales And Profit
GST Council Failed To Deliver: Biocon's Kiran Mazumdar Shaw
Everything You Need To Know About GST
Most Traders In Rajasthan Participate In Strike
Will Consumers Pay More Tax Or Less?
GST Being Rolled Out In A Half-Baked Way: Rahul Gandhi