What is the impact of GST on commodities?
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As per the Indian retail industry, the total tax component is around 30% of the product cost. Due to the impact of GST, the taxes have gone down. So, the end consumer has to pay lesser taxes. The reduced burden of taxes has enhanced the production and growth of the retail and other industries
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Step-by-step explanation:The GST regime has brought about reduction in tax rates of most of the commodities to be consumed by the weaker sections of society, thereby benefiting them," he said in a written reply to a question in the Rajya Sabha. The passing of GST will have a positive effect on the economic reforms of the country
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