Breaking News

You are here » Indian-Commodity  :  Economy  :  Majority of industry satisfied with GST implementation: Care Ratings

12-Dec2017

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.



Related News

View all news

Bank credit surges 12.7% in fortnight ended August 3

The Reserve Bank of India (RBI) in its latest data has showed that Bank credit surged by 12.70 percent to Rs 86,79,741 crore in the fortnight to August 3,2018. In the year-ago fortnight, bank advances......

P-notes investment declines to over 9-year low of Rs 80,341 crore at July-end

Continuing declining trend, the share of foreign portfolio investments (FPI) in domestic capital markets through participatory notes (P-notes) has declined to over nine-year low of Rs 80,341 crore at the......

Weakening rupee may be positive for certain segments in short term

The weakening Indian currency may be positive for certain segments in the short term but global buyers may start asking for discounts if the unit would stay near the 70 mark. Indian Silk Export Promotion......

Top News

View all news

Shriram City Union Finance planning to raise up to Rs 500 crore

Shriram City Union Finance is planning to raise funds up to Rs 500 crore. The company intends to issue and allot on private placement basis 5,000 number of secured non-convertible redeemable debentures......

TCS features as star performer in Digital Workplace Services by Everest Group

Tata Consultancy Services (TCS) has been recognized as a leader and Star Performer for the second year in a row in the Everest Group PEAK Matrix for Worldwide Digital Workplace Services. In an assessment......

Tribhovandas Bhimji Zaveri opening 38th store in Uttar Pradesh

Tribhovandas Bhimji Zaveri is opening its 38th store at G-31 & G-32 consisting of Basement Ground Floor & First Floor Noida, in state of Uttar Pradesh on August 18, 2018.Earlier, the company......