According to the global financial services major, though the government would ideally like to launch GST from April 2017, it is unclear whether administrative and technological set-up required to make the transition will be up and running by then.
Luxury cars, FMCG products, consumer durables, electronics items and readymade garments will become cheaper once GST is rolled out next year, but mobile phones, banking and insurance services, telephone bills as well as air travel will be dearer due to higher tax.
Speaking at the My Gov townhall on Saturday, Prime Minister Narendra Modi said that 8 percent plus growth over the next 30 years will bring the best of the world to India, even as he lamented being questioned for every "wrong" right from the Panchayat level.
The passage of GST Bill in the Rajya Sabha is "credit positive" for India's sovereign rating as the rollout of Goods and Services Tax regime will have a favourable impact on growth and tax revenues, Moody's Investors Service said on Friday.
Modi government on Friday formally implemented its central inflation target of 4 percent, an important confirmation of the inflation-fighting policies championed by Reserve Bank of India (RBI) Governor Raghuram Rajan, who steps down next month.
The GST regime slated to be rolled out from April 1, 2017, should ensure that issues like complex billing and invoicing requirements and reverse charge on import of services do not impact the export competitiveness of the USD 110 billion sector, industry body Nasscom said on Thursday.
As government looks to implement the Goods and Services Tax (GST) from April next year, Finance Minister Arun Jaitley on Thursday said the tax rate will be "optimum" even as there were indications that it may be higher than 18 percent.
There is a "huge element of money laundering" in illegal public deposit schemes across the country, a top Sebi official said on Thursday, even as he wondered why not many claimants are coming forward to get back the money in the high-profile Sahara case.