Expecting a national goods and services tax (GST) to come into effect from the next financial year, financial services major Nomura said economic growth would be hit and the Consumer Price Index-based inflation would rise in the short run.
While the central tax kitty would increase within GST base would increase, those of states would fall in the short run, it said in a report. However, in the long term, GST would be clearly beneficial for the economy with the economic growth rising and inflation coming down, Nomura said in its report on 'India Goods and Services Tax - Making ...
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