GST to create business efficiency in the medium term: CRISIL

CRISIL Research believes that the reform will improve tax efficiency

Domestic ratings agency CRISIL said it will take six months for industrial stabilisation after GST is introduced but gains of the biggest indirect tax reform will take up to 3 years to materialise.

"Industry stabilisation, under the new tax regime, will take a couple of quarters. However, the benefits of GST on business practises and company strategies will be seen only in the medium term of 1-3 years," its research wing said.

Of the two, the efficiency in goods will be higher than that in services, it said in a note.

Under the Goods and Services Tax (GST), emphasis on