MOSL: Morning India (9/November/17): 1. GST (Rate recalibration likely) 2. United Spirits (ART) 3. Shree Cement 4. Petronet LNG 5. Ashok Leyland 6. Bharat Forge 7. United Breweries 8. Dalmia Bharat
​MOrning India (9/November/17): 1. GST (Rate recalibration likely); 2. United Spirits (ART); 3. Shree Cement; 4. Petronet LNG; 5. Ashok Leyland; 6. Bharat Forge; 7. United Breweries; 8. Dalmia Bharat
Today’s top research theme
- GST: Rate recalibration likely; Consumers, light electrical and home building may benefit
- The GST Council in its 23rd meeting, which is scheduled to commence on 10th November 2017, is likely to make sweeping changes to the GST framework, with an aim to (i) ease the compliance burden for small businesses and (b) recalibrate the tax rates on many common-use goods that fall under the 28% slab.
- We believe that the Council might look to lower rates for items in the consumer, light electrical and home building sectors.
- In our view, this should positively impact companies like HUL, GCPL, Nestle, Asian Paints, Berger Paints, Kansai Nerolac, Titan, Bata, Havells, Crompton Consumer, Finolex, V Guard, Kajaria Ceramics, Somany Ceramics, Century Ply, and VIP industries, among others.
Piping hot news
GST Council meeting begins today, tax rules revision, GSTN glitches on agenda
The Goods and Services Tax (GST) Council is set to further amend tax rules to fix glitches in the new indirect tax system and make it easier for businesses and traders to settle into it. The move comes as a tacit admission by the authorities of the flaws in the system that have made it hard for businesses and traders to make a smooth transition, and that the system started off with high compliance requirements.
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