Goods and Services Tax (GST)

Hyderabad store to open by next year end; have already bought land to open shop in Mumbai, says IKEA CEO, Juvencio Maeztu.

Prime Minister Narendra Modi is expected to intervene during the debate on the Bill in Lok Sabha around 6 PM.

Cement sector will be the biggest beneficiary of government spend and infrastructure projects, says S Krishna Kumar, CIO Equity, Sundaram Mutual Fund.

The country's economic system heaved a collective sigh of relief after the Rajya Sabha passed the long-delayed Goods and Services Tax (GST) Constitutional Amendment Bill. Along with the recently-passed Bankruptcy Code, the government has ticked off two major reforms on its agenda.

Multiplexes, automotive and auto ancillaries make a good play in the coming quarters, according to experts.

Logistics sector is good for the long-term, says R Sreesankar, Head of Institutional Equities, Prabhudas Lilladher. The stocks have run ahead of the fundamentals and they need to take a breather, he adds.

Implementation of GST Bill will require a huge electronic platform on one hand and changing the practices of filing returns on the other, Hindustan Construction Company‘s Chairman and Managing Director Ajit Gulabchand tol CNBC-TV18.

The world's central banks, which have maintained an unprecedented ultra-loose monetary policy stance, are likely to up the ante even further, according to noted analyst Marc Faber.

GST will help India become a big unified market, says Kishore Biyani, CEO of Future Group, adding, the company will benefit the most.

In an interview to CNBC-TV18, MS Unnikrishnan, MD of Thermax said that 18 percent goods and services tax (GST) should certainly bring down tax rate.

"What we need is an optimal (GST) rate," Finance Minister Arun Jaitley said while addressing a press conference a day after the Rajya Sabha approved the historic Constitution Amendment Bill, paving way for a complete overhaul of the indirect tax regime in the country.

GST, says Chief Economist of Aditya Birla Group, will benefit manufacturing companies and do away with all hindrances to inter-state commerce. It will help such companies decrease the burden of entry taxes into states and logistics costs.

In an interview with CNBC-TV18 Chhaochharia discussed the impact of GST on various sectors and how it will affect the corporate earnings.

"We have done our all our calculations, and spent only where it was necessary – social welfare programmes like MNREGA and crop insurance schemes; we are confident of maintaining the fiscal deficit target with these additionalities in expenditure," says Finance Secretary, Ashok Lavasa.

GST will largely affect the broad market in general and not specific companies. Hence, it will not change the firm's stock selection, says Hugh Young, Managing Director, Aberdeen Asset Management Asia.

Speaking to CNBC-TV18, Arvind Subramanian, Chief Economic Adviser to the Government of India, clarified that he had recommended a range of standard Goods and Services Tax rate between 17 percent and 19 percent.

Madhusudan Kela of Reliance Capital told CNBC-TV18 that foreign institutional investment (FII) rating is likely to level up for India after the roll-out of GST and the implementation of the Bill is a big trigger from the perspective of foreign investors as it will lead to ease of doing business, improve efficiency and reduce corruption.

Uday Kotak, Executive VC & MD, Kotak Mahindra Bank, says passing of the GST Bill is a symbol of ‘One India‘. While Arundhati Bhattacharya, Chairman, State Bank of India said GST was a very important piece of legislation that will improve efficiencies within the system.

While Parliament unanimously voted for the passage of GST Bill on Wednesday, going ahead states will have to their own analysis on the tax rate, says Chief Economic Advisor Arvind Subramanian.

Hailing the passage of GST Bill in Rajya Sabha as an extremely progressive step, Walmart India today said creating a single market in India for goods and services will boost the country's economy significantly, help retail sector in a big way.