Rajveer Thakur With Love 8 Questions 6 Answers 6 Best Answers 49 Points View Profile Rajveer Thakur Asked: September 23, 20202020-09-23T18:52:48+05:30 2020-09-23T18:52:48+05:30In: UPSC MAINS What are the impacts of GST on India’s international trade and foreign investment? Discuss the impact of GST on India’s international trade and foreign investment. economicsimpacts of gst Share Facebook 1 Answer Recent Rajnish Optimist 145 Questions 255 Answers 237 Best Answers 1k Points View Profile Best Answer Rajnish Optimist 2020-09-23T18:59:16+05:30Added an answer on September 23, 2020 at 6:59 pm Here are some of the main impacts of GST on foreign trade: Implementation of Goods & Service Tax (GST) will lead to increased tax compliance and attract more foreign direct investments across sectors due to tax transparency and ease of doing business. There might be some heartburns like inflation in the early days of implementation but GST will improve the GDP of the country in the long run. Buoyed by the passage of the GST Bill in Rajya Sabha, industry leaders today said the rollout of the indirect tax reform will lure more foreign investors to India, improve the country’s manufacturing competitiveness and boost economic growth by nearly 2%. When implemented, it is expected to usher in a harmonized national market of goods and services and shall lead to a simplified, assessee friendly tax administration system. There are deep benefits for both domestic and global industries in this clear, predictable, and unifying approach. GST is likely to make goods cheaper for consumers, increase the competitiveness of Indian exports in international markets and boost the country’s GDP growth by 2%. It would have far-reaching reform places India at the cross-roads of an incredible economic opportunity. 1 Reply Share Share Share on Facebook Share on Twitter Share on WhatsApp Leave an answerCancel replyYou must login or register to add a new answer.Continue with FacebookContinue with Google Related Questions What is EPFO and EPF? Describe ‘Strategic Trade Authorisation’(STA).