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Majority of industry satisfied with GST implementation: Care Ratings

Assessing the position of various industries post the implementation of Goods and Services Tax (GST), credit rating agency, Care Ratings in its latest quick survey report has said that on the whole majority are satisfied with the implementation of new tax regime. However, it noted that though the GST implementation is satisfactory, majority of industry players faced difficulty in filing GST returns.

The report titled 'Post-GST Survey: December 2017' examined impact of GST implementation on the operating and financial performance of industries on the basis of parameters like - inventory levels, input costs, demand supply matrix and profitability. It found that for the majority, disruptions caused by destocking were not significant, while position of re-stocking came back to normal in the most of the sectors. The survey further said that Infrastructure players would take some time before the position of stocks normalizes.

The survey also found that there was no perceptible change in the cost of raw materials and demand for products & services post GST implementation. Also, the festive season sales were not impacted for the majority of respondents. The survey further noted that most respondents were not sure of the GST impact on their profit margins.

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