After introduction of GST, increasing trend in the number of companies\u2019 registrations, industrial activity has accelerated and growth in sales for corporates has also seen a remarkable increase
GST
Dated:- 24-3-2018
Introduction of GST was a historical step for transforming India into a common national market with a simplified tax regime. GST was implemented w.e.f 1st July, 2017 and was welcomed by industry and corporates. Corporate sector as represented by industry associations such as CII, FICCI, and ASSOCHAM has reacted positively to introduction of GST in India.
\nThe total number of companies registered during the period July, 2017 to February, 2018 (post GST) is 68,299. The number of companies registered in the correspo<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ood at 1.9% and 2.8% respectively. Thus, the growth in sales for corporates has also seen a remarkable increase in the post GST period so far. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" After introduction of GST, increasing trend in the number of companies\u2019 registrations, industrial activity has accelerated and growth in sales for corporates has also seen a remarkable increase GSTDated:- 24-3-2018Introduction of GST was a historical step for transforming India into a common national market with a simplified tax regime. GST was implemented w.e.f 1st July, … Continue reading “After introduction of GST, increasing trend in the number of companies\u2019 registrations, industrial activity has accelerated and growth in sales for corporates has also seen a remarkable increase”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11103","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/11103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11103"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/11103\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThis was stated by Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Lok Sabha.
\nAlso, the overall growth rate of GDP increased from 6.5% in Q2 to 7.2% in Q3 of 2017-18. The corresponding figures for 2016-17 were 7.6% and 6.8% respectively.
\nIntroduction of GST was the biggest tax reform in independent India. Introduction of GST has reduced the multiplicity of taxes and has thus created a simpler tax regime to promote ease of doing business. By doing away with the cascading effects of multiple taxes, GST is expected to lead to a reduction in the prices of goods. <\/p>\n
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