Impact of GST on Industries and Business?
Short term impact of GST will be visible from July 1, 2017. It is expected that sales will drop for few days as most of the buyers will be confused before getting into certain things with the new tax. If the decrease in prices are visible at such big level, sales will see a steep rise in the coming months.
Things will get back to normal within few days of the implementation. Traders will have to check their balance sheets and see if something is falling out of the way than directed in the new tax slabs. Overall, the economy will gain benefits from the implementation of GST.