Survey says GST Impact Positive on FDI

Feedback Business Consulting Services survey says GST rollout will be positive for the economy.

Around 72 per cent of the 67 respondents felt investments will rise across sectors and a significant portion of this will come in the form of FDI especially in heavy engineering and automotive sectors which are burdened with cascading taxes without set off.

Reduced logistics cost, supply chain efficiency, reduction in costs for tax & regulatory compliance, better penetration of markets and export effectiveness is said to be the major spin offs.

Rate at which tax will be charged, the survey said, remains key to GST success.

The survey was initiated immediately after the passage of GST Bill in parliament and the response were collated by 31st August.