Standard Rate

The market had already run up substantially and so is likely to consolidate, making investors selective. However, the underlying current still remains bullish and money will continue to flow in, said Nirmal Jain of IIFL.

EXPLAINED: What GST means for economy, corporate and common man

GST would subsume other forms of indirect taxation, making it easier for businesses to comply with the tax regime. Being a multi-stage tax, GST provides for an input tax credit mechanism (to claim set-offs for tax paid in the prior stages of production / distribution), which is expected to encourage better invoicing and voluntary compliance

GST to help share for organised players go up to 50%: Cera

Atul Sanghvi, Executive Director, Cera Sanitaryware, says once GST comes through the share of organised players in the space would increase to 50 percent from 35 percent.

Doing away with 1% inter-state tax a +ve reco: Industry

Nadir Godrej, MD, Godrej Industries said, although one is happy that something is moving forward in terms of GST, the standard rate recommended is on the higher side.

Industry may be happy with 18% standard GST rate: Taxmen

MS Mani Senior Director Deloitte Haskins & Sells, said, although the 15.5-15 percent neutral rate is a welcome surprise one should not read too much into it because the standard rate is likely to be between 17 and 18 percent and that is the rate at which most goods are likely to be taxed.

CEA-led panel recommends standard GST rate of 17-18%

The chief economic advisor, Arvind Subramanian, has submitted his report on the goods and services tax (GST) to Finance Minister Arun Jaitley that outlines the scope of the ambitious reform that aims to rehaul the country's indirect code.