1. Vietnam Shrimp Export Data – List of Seafood Exporters in Vietnam
  2. What are the Impact of GST on Importers and Exporters in India?
  3. What are the Impacts of GST on Various Indian Industries?
  4. India Refrigerator Import Data 2017 – Freezer Customs Data of India
  5. What is GSTIN? What are Advantages & Disadvantages of GST in India?
  6. Top Gold Buyers in India – List of Gold Importers with Gold Import Data
  7. India Air Conditioner Import Report 2017 – Top 30 AC Importers in India
  8. LABSA Export Shipments Data of India – Top LABSA Exporters in India
  9. List of Tea Exporters in India – Indian Tea Export Data and Report
  10. India Palm Oil Report 2017 – Top 25 Palm Oil Buyers in India
  11. Olive Oil Imports into India 2017 – Top 20 Olive Oil Importers in India
  12. Top 20 Egg Exporters in India – Indian Egg Export Data 2017
  13. LED TV Import Data of India 2017 – LED TV Import Market Report
  14. Vietnam’s Mobile Phone Export Market – Vietnam Mobile Export Data
  15. Banana Exporters in India – Indian Banana Export Data
  16. Rice Export from India to the World – Top 50 Rice Exporters in India
  17. Spices Export from India – Top Spices Exporters in India
  18. Coal Imports into India – List of Biggest Coal Buyers in India
  19. What is HS Code? How to find HS Code Online? HS Code List
  20. What is the Calculation Method of Import Duty after GST in India?
  21. List of Dry Days in 2018: Dry Day in Delhi, Mumbai, UP, Noida, Haryana
  22. Alcohol Import Partners of India : Top Indian Ports of Alcohol Import
  23. Who are the Hard Drive Importers in Vietnam? Hard Drive Import Data
  24. Largest Type of Alcoholic Drink Imported into India – The Whisky Story
  25. Top 50 Leather Exporters in India – List of Leather Suppliers in India
  26. Top 20 Alcohol Importers in India – Alcohol Companies List
  27. Alcoholic Drinks Import Report of India – Alcohol Market Report
  28. Alcohol Consumption in India – Alcoholic Beverages Market Report
  29. Onion Export Data: Onion Exporters in India – Onion Suppliers List
  30. List of Sugar Exporters in Brazil – Brazil Cane Sugar Export Analysis
  31. Top 50 Mango Exporters in India – Mango Export from India Report
  32. List of Coal Importers in India – Top Coal Buyers in India
  33. Top 5 Indian States Exporting Leather Products to Other Countries
  34. Top 10 Gold Importing Countries in the World – Biggest Gold Buyers
  35. 8 Best Ways to Find Buyers and Suppliers in China for Your Product
  36. USA Energy Industry Global Trade Report – Petroleum Top Trade of USA
Friday, October 19, 2018
  1. Vietnam Shrimp Export Data – List of Seafood Exporters in Vietnam
  2. What are the Impact of GST on Importers and Exporters in India?
  3. What are the Impacts of GST on Various Indian Industries?
  4. India Refrigerator Import Data 2017 – Freezer Customs Data of India
  5. What is GSTIN? What are Advantages & Disadvantages of GST in India?
  6. Top Gold Buyers in India – List of Gold Importers with Gold Import Data
  7. India Air Conditioner Import Report 2017 – Top 30 AC Importers in India
  8. LABSA Export Shipments Data of India – Top LABSA Exporters in India
  9. List of Tea Exporters in India – Indian Tea Export Data and Report
  10. India Palm Oil Report 2017 – Top 25 Palm Oil Buyers in India
  11. Olive Oil Imports into India 2017 – Top 20 Olive Oil Importers in India
  12. Top 20 Egg Exporters in India – Indian Egg Export Data 2017
  13. LED TV Import Data of India 2017 – LED TV Import Market Report
  14. Vietnam’s Mobile Phone Export Market – Vietnam Mobile Export Data
  15. Banana Exporters in India – Indian Banana Export Data
  16. Rice Export from India to the World – Top 50 Rice Exporters in India
  17. Spices Export from India – Top Spices Exporters in India
  18. Coal Imports into India – List of Biggest Coal Buyers in India
  19. What is HS Code? How to find HS Code Online? HS Code List
  20. What is the Calculation Method of Import Duty after GST in India?
  21. List of Dry Days in 2018: Dry Day in Delhi, Mumbai, UP, Noida, Haryana
  22. Alcohol Import Partners of India : Top Indian Ports of Alcohol Import
  23. Who are the Hard Drive Importers in Vietnam? Hard Drive Import Data
  24. Largest Type of Alcoholic Drink Imported into India – The Whisky Story
  25. Top 50 Leather Exporters in India – List of Leather Suppliers in India
  26. Top 20 Alcohol Importers in India – Alcohol Companies List
  27. Alcoholic Drinks Import Report of India – Alcohol Market Report
  28. Alcohol Consumption in India – Alcoholic Beverages Market Report
  29. Onion Export Data: Onion Exporters in India – Onion Suppliers List
  30. List of Sugar Exporters in Brazil – Brazil Cane Sugar Export Analysis
  31. Top 50 Mango Exporters in India – Mango Export from India Report
  32. List of Coal Importers in India – Top Coal Buyers in India
  33. Top 5 Indian States Exporting Leather Products to Other Countries
  34. Top 10 Gold Importing Countries in the World – Biggest Gold Buyers
  35. 8 Best Ways to Find Buyers and Suppliers in China for Your Product
  36. USA Energy Industry Global Trade Report – Petroleum Top Trade of USA

Goods and Services Tax or GST is a reality as business operations have been taking place across the states and around the world under new taxation policy in India. There are certainly expectations that this tax reform will boost the Indian economy; however, there are doubts as well that it will have both positive and negative impacts on industries. It may be too early to make any proper analysis on impact of GST on various sectors in India as GST has been implemented recently. We all have to wait for at least a year to have complete and correct outlook of GST impact on various industries in India.

So, what is the impact of GST on various sectors in India? Let’s get the answer of it by putting some light on impact of GST on various sectors such as textile, iron & steel, pharma & healthcare, cement and telecom.

 

Textile Industry in India

The textile industry in India brings employment opportunities to a large number of skilled and unskilled workers. It contributes about 10% of the total annual exports of India. And this figure is likely to increase in current fiscal. GST impact on readymade garments such as trousers, saree, shoes, apparel and other clothing materials is experienced due to cotton value chain on these products. In a recent decision taken by the GST Council members, the tax rate on job work for textiles and textile products has been reduced to 5% from 18%. Other impact of GST on textile industry is input tax credit, which is not allowed if a registered taxpayer procures the inputs from composition scheme taxpayers or the unorganized sector. It is available for the tax paid on capital goods.

 

Iron and Steel Industry in India

Iron and steel are primary requirements of the construction industry and commonly used in the manufacturing of machine parts. After GST implementation, special additional duty (SAD) on iron and steel has been abolished. The other major impact of GST on iron & steel industry in India includes – reduction of cost & time in logistics, bringing more employment opportunities in undeveloped states, utilizing natural resources and protection to domestic industry. What is GST rate on iron and steel in India? The tax rates on iron and steel range from 12% to 28%. 

 

Pharma & Healthcare Industry in India

India’s pharmaceutical industry ranks 14th in terms of value and is 3rd largest in the world. GST impact on healthcare industry is constructive. It has helped industries to streamline the taxation structure as eight types of taxes were levied on pharmaceutical industry before GST. The GST impact on pharma companies reveals that they can now rationalize their supply chain and they need to review their distribution networks and strategies. The GST rates on pharma & healthcare industry range from 5% to 12%. So, like other sectors, there is a impact of GST on healthcare industry.

 

Cement Industry in India

India is the 2nd largest cement producer in the world right after China. Under GST regime, effect of GST on cement industry will not be significant particularly on GST rate on cement. Earlier tax rates on cement products were between 27% and 32%, however now GST rates of 5% to 28% are levied on cement articles. Many market experts believe that there is a positive impact of GST on cement industry in India on certain parameters. For example, GST gives a boost to supply chain management of cement. So, cement manufacturers can maintain multiple warehouses across states to avoid state entry taxes and CST. Moreover, as vehicles transporting cement from one state to another are spending lesser time at checkpoints, so transit time gets declined. Certainly, cement industry can enjoy savings on transportation costs.

 

Telecom Industry in India

Telecom industry of India can basically be divided into three parts namely equipment manufacturers, infrastructure providers and telecom service providers. After launch of Reliance Jio, the sector is facing severe pressure in the form of intense competition. Now Goods and Services Tax or GST has been implemented, the GST on telecommunication services is taxed at 18%, which is higher than rates charged earlier. GST rates are also applicable in different range on other products and services in the telecom industry. Certainly, like other industries, there is an impact of GST on telecom sector in India.

 

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