Seventy per cent commodities to become cheaper under GST: ICAI

Institute adds that the GST regime would yield Rs 6,700 cr to the Delhi exchequer in the current FY

With the goods and services tax (GST) set to be rolled out from July 1, the Institute of Chartered Accountants of India (ICAI) on Thursday sought to dispel the concerns about price rise due to the new indirect tax regime.

The ICAI’s indirect tax committee chairman, Madhukar Narayan Hiregange, said prices of 70 per cent commodities would come down if the GST chain was not broken. 

A study by the institute has revealed that the GST regime would yield Rs 6,700 crore to the Delhi exchequer in the current financial year as people from the unorganised sector would come into