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Mixed Bag
Indian Management
|November 2017
Impact of GST on the ecommerce sector.
Implementation of the Goods and Services Tax (GST) required businesses to bring about several changes which resulted in disruption. This also impacted the country’s economy as a whole. However, several experts opine that though it may seem negative, it will prove advantageous in the long run for the corporate sector as well as the government.
The impact
GST has shaken up India Inc. Though compliance requires newer processes which may be cumbersome intitially, the probability of tax evasion has decreased.
GST Council will closely monitor implementation of the anti-profiteering norm to ensure that customers get maximum tax benefits.
There is a possibility that inflation of GST rates will remain low for goods and services.
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