GST rates negative for beverage, paint sector: Surendra Goyal

Surendra Goyal of Citi said, "The government has tried to align the new rates close to existing rates, so the impact may not be very significant for most segments. Likely positive impact to be on consumer staples, capital goods and thermal power producers."

"Likely negative impact will be on alcoholic beverages and paints. Should be neutral to marginally positive for ITC. Possibly negative for certain services that will fall in the 18 percent category," he said.