What Shall GST Bring in 2017?
The financial year 2016 is on the verge of ending soon. Just a few months left in the implementation of the most-awaited GST regime. As per the analysis of various experts, and the announcements by the government, there are cent percent chances of implementation of the GST from April 1, 2017.
After the passage of the bill in August 2016, everyone was eagerly waiting to witness its impact on the society and of course on their personal lives. We have already provided you with the basics of GST in our earlier post, “GST- A Revolution in Indian Taxation System”, which would have surely helped you in gaining sound knowledge about the same. So now, let us know about the execution of the regime and other matters of concern that we must know before entering in 2017.
- The government has readied the strategies to overtake the current Indian Taxation System, by overhauling the CBEC(Central Board of Excise and Customs) to make sure that the implementation shall be free of hindrances.
- All the states of the country are forming committees to make effective management plans, and looking for consultants who could help them manage their revenue after the execution.
- RBI reports say that, with the reduction in cost due to several improvements in productivity, the inflation shall also be impacted by the GST execution next year. It has recommended 18% to be the maximum and 12% to be the minimum rate of GST across the country so as to assure minimal impact of the inflation rates.
- The investors all around are in the urge of favourable changes; the mutual fund market shall hold a better position if managed effectively.
- There are different sectors which are going to earn a tremendous relief and maximum benefit with the GST implementation. The investments made in such sectors shall be fruitful for the investors. The logistics and transportation sector is one of them.
- As the government is expecting high tax revenues due to GST, the coming years in the Indian economy shall be offering greater benefits to the society. You too must be part of the growing economy by investing your money in the fund industry.
As it has been evaluated that the borrowing shall be expensive with the GST execution, it is quite beneficial for everyone to make the short-term debt mutual fund investments in order to accomplish the instant needs with the returns on investment, instead of borrowing money that time.
So, apart from the several benefits for the individuals, GST implementation in April 2017 is going to make the entire country a single market and the investors across the country shall be empowered to make the most of it. Now is the time to take a smart step ahead to ensure your growth with the growing Indian economy.
MySIPonline has set its foot in the market very aptly and is waiting for the implementation of the GST laws, so as to provide maximum benefits to its clients. You must get in touch with us and start your financial planning now to avail the highest returns for your future.