Impact of GST on India

GST And Its Impact On SMEs And Various Sectors Of The Indian Economy

Amidst the entire economic crisis across the globe, India is demonstrating hope with determined growth targets, supported by a slew of important projects like “Make in India”, “Digital India”, etc. The biggest tax reform since Independence, the Goods and Service Tax (GST), is all set to transform the Indian tax system.

The Goods and Services Tax (GST) is expected to act as the much-needed catalyst for economic growth in India and is expected to alter the indirect taxes levied on goods and services within the economy and also eliminate the cascading effect of the tax system. GST has created high anticipation not only in India but also among all the neighboring and developed economies of the world. India will be playing a vital role in the global economy in the coming years because of GST implementation. Among all the rumours about the negative impact of this bill on the SME sector, would the pros outweigh all the cons?

Part II of our interview with Dr. Barman

Interview: In Conversation With The Man Behind The Indian Digital Payment Revolution, Dr. R. B. Barman (Part II)

This is Part II of a two-part series

Recently, KredX had an opportunity to chat with the man responsible for the introduction of digital payment services in India, Dr. R. B. Barman, who is also an advisor to KredX. Dr. Barman is the Chairman of the National Statistical Commission, Advisor to the National Payments Corporation of India (NPCI) and has also served as the Executive Director of RBI, among the various positions he has held during the span of his illustrious career.

Part I of our interview with Dr. Barman

Interview: In Conversation With The Man Behind The Indian Digital Payment Revolution, Dr. R. B. Barman (Part I)

With India shifting towards a cashless economy, digital payments are the need of the hour. The government has introduced several schemes and projects to further provide an impetus to the fast-growing digital payment sector of the country. To think that RTGS, NEFT, NECS, Mobile Payments, ATMs were introduced only in the 2000’s, India certainly has come a long way since then in mobile and digital payments! Recently, KredX had an opportunity to chat with the mastermind responsible for the introduction of these payment services in India, Dr. R. B. Barman, who is also an advisor to KredX.

GST 2017 - One Nation, One Tax, 8 Tax Rates

GST 2017 – One Nation, One Tax, 8 Tax Rates

As the country inches closer to the final rollout of GST, economists, financial experts and entire industries are preparing themselves for the potential impact GST would have on the various sectors. GST, touted as one of the most revolutionary bills to ever be implemented, is expected to benefit the common man and make a positive impact on most industries barring a few. Let’s take a quick look at the tax rates and tax slabs recently announced by the GST Council.