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GST and its Impact rev1
1. The document discusses the impacts of GST on various industries and the economy. Key impacts include a simpler tax structure, dramatic price reductions for goods like food items, no border check points which will reduce transportation costs and food wastage, and significant reduction in documentation requirements for businesses. 2. The document also notes that the tax system needs to be designed for future technologies like 3D printed cars and the changing business models they may bring. Industries will need to reset their organizations and build scenarios to position their business beyond 2020 for the changes brought about by GST.
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- 1. 1 Tax Impact Goods Service & All –Goods = Service! Spirit out of Purview! Harish Pant Managing Director
- 2. India Supply Chainin Chains! Non Value Added ActivitiesProcesses End Result
- 3. Banking 3 Business Echo System Technology Digitization Infrastructure Solar Treaties ExchangeRate Oil Prices Interest Rate E commerce Uncertain, Volatile and Changing Echo System GST Tesla, Apple and Google in Auto/Aero 3D Print - No multi tier suppliers! Embedded, IOT, AI – All connect E Commerce integrator of MSME’s & consumers Digital money 5G First launch in India?! No more products – All as service Social embedded Smart cities Digital subsumes finance/Banking All Cloud!
- 4. 4 Indirect Taxes –Unfriendly at every turn! EOU Complexities Countries specific restrictions Technological restrictions Logistics constraints 300 Kms =15 hrs lead time! Order size Invoicing complexities Batch Prod and Store Export Complexities Payment Complexities Paper Orientation
- 5. GST for achanging world? • 3D Printed cars you Don’t own, Self Drives, Runs on Charge and No Pollution • Design taxation system for future
- 6. 6 GST Book -Bimal Impacts of GST
- 7. 7 Impacts of GST… • Simple Tax structure
- 8. Impacts of GST... • Dramatic Price Reduction - Daal at Rs 20/kg and mangoes at Rs 10/kg! - Integrate Food processing, E –Mandis, Logistics and GST • No Border check points, Smart system for toll collection • Saving due to perishable food items not getting spoiled ( > 50%) • For Manufacturing Companies • Shift to demand driven lean system • Value Velocity • Massive document reduction • Invoicing a child's play
- 9. 9 • Reset organizationfor and beyond GST roll out • Build up various emerging scenario beyond 2020 and position business • Action plan for change over with least negative social impact • Curricular change - Innovation and Entrepreneurship at the core • Faculty composition to Ideate and create Going forward….