GST is an attractive economic measure but is not a game changer: Bank of America

The much awaited and important Goods and Service Tax (GST) bill has been described by one of the leading MNC company Bank of America as not a game changer.

The bank said that the much-awaited GST is an attractive economic measure from the view of taxation.

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According to company, “Research show that GST will increase GDP between 0.9-1.7% and this benefit will increase over a few years. This is the reason that we will continue to pressurize that lending rate cuts hold the key to recovery.”

It further added that, “Arvind Subramanian report recommending a standard rate of 17-18%, with a range of 2-40%, is an important decision in implementing it.”