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Statement from Rajat Wahi, Partner and Head of Retail Sector, KPMG in India on Budget 2015-16

Feb 28, 2015   18:02 IST 
India

Statement from Rajat Wahi, Partner and Head of Retail sector, KPMG in India

The Union Budget 2015–16 envisages a balanced and long-term economic and industrial growth for India. With positive consumer sentiments and softening inflation, budget announcements on GST, revision of excise/custom duty structure, fund allocations for Skill development and rural markets development would ensure long-term consumption boom for the Indian retail sector.  The announcement of roll out of Goods and Services Tax (GST) on 1 April 2016 is the single most significant development for the sector, as this would result in uniform taxation for products and services across the country. Reduction in excise duty on footwear (leather), with retail price of more than INR1,000 per pair, to 6 percent would boost both volume and value growth of the industry.

 


 
 
Rajat Wahi, Partner and Head of Consumer Markets, KPMG India
Rajat Wahi, Partner and Head of Consumer Markets, KPMG India
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