New Delhi: Implementation of the goods and services tax (GST) will be positive for India's rating as it will lead to higher gross domestic product (GDP) growth and increased tax revenues, Moody's Investors Service said on Sunday. More From Livemint »The GST will also support higher government revenue generation through improved tax compliance and administration. The US-based agency expects improved tax compliance to be driven by incentivisation of tax credits in a GST system. "We expect the net impact of GST on government revenues to be positive," Foster said. In the GST regime, goods and services will be taxed in the either of 0%, 5%, 12%, 18% and 28%.

Source: Mint July 02, 2017 11:41 UTC