GST rollout:Railways to evaluate impact on operations
The Railways have set up a group to study the impact of soon-to-be-launched goods and services tax (GST) on its operations, reported a national news agency on Thursday.
“Inevitably all sectors will be affected (with the GST rollout). Not to say that the Railways will be immune from this. We are studying the impact. In any case, it is the law of the land so we will adopt it. We have already set up a group to look into the implications of GST on all our operations,” said the Railway Minister Suresh Prabhu, while interacting with the media.
The immediate impact of GST will see a 50 bps increase in AC and First-Class train fares to 5 per cent from July 1. However, the minister added that in the long-run, the new tax regime will be a great boost to overall growth which will help the economy clip at double-digits.
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Via:: Stock – India Infoline