Moving to GST Era: For Registered Manufacturers

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GST Impact on Service Sector in India

Indirect taxes have always been contributing more than direct taxes to the Government’s Revenue. Services solely contribute major part of the whole Gross Domestic Product (GDP), subsequently, it shows the major contribution of Services in taxes also. Service sector does not only dominate the GDP contribution but attracts the foreign investment towards the Indian Economy. Service Sector contributes significantly in export as well as provide a large scale employment. India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction.

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