Impact of gst on various sectors

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CA Amrita Chattopadhyay

Audit & Assurance

13459 Points Joined July 2011

Impact of GST

a. Consumer Staples : Current rate is 22% GST rate 18% - Positive impact

b. Consumer Discretionary : Current rate is 15% GST rate 18% - Negative impact

c. Media & Entertainment: Current rate is 15% + 7% GST rate 18% - Positive impact

d. Telecom industry: Current rate is 15% GST rate is 18% - Negative impact

e. Auto & Auto Ancillary: Current rate is 27% GST rate is 18% - Positive impact

f. Metals: Current rate is 18% GST rate is 18% - No significant impact

g. Cement : Current rate is 27% GST rate is 18% - Positive impact

h. Pharma : Current rate is 15% GST rate is 18% - Negative impact

i. Real estate : Current rate is 15% GST rate is 16% - No significant impact

j. Logistics : No change in the tax rate.

Replies (3)

Vineeth PN

Account Assistant

687 Points Joined June 2014

WHY REALESTATE 16 % AND LOGISTICS NO CHANGE?I LOGISTICS AS SERVICE 15 %? AND HOW YOU DISIDED RATE OF GST HOW YOU CALCULATE RUNNING TAX AND DUTY?

I think it won't be too easy to calculate the impact of GST on the industries before its actual implementation. There will be many complications and of course business entities and professionals need to re-calculate its impact of the financials. The picture will be more clear with its effect on various industries and transactions, once it comes into force.

sunil kumar

accountant

31 Points Joined January 2012

sir my co. registered in delhi (residence place) under gst we are doing event and management work in goa my question is
1) what will we charge to client cgst,sgst, igst
2,) if i generate a bill from delhi and charge igst i am unable to take my input in case of if i did not take causal taxable person gst registration
3) sir if i take temp registration for prescribe period so i will have to take so many registration in a months and how will we manage our accounting
and if i generate bill for event which held on goa from delhi so is it.compulsory that our temp gst no should be in bill and charge cgst and sgst from client so that we can claim cgst and cgst input pls reply