August 4, 2016 8:30 AM

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USIBC terms passage of GST Bill as a "game-changer"

The US-India Business Council has termed the passage of the GST Bill as a "game-changer", saying it is a significant milestone in efforts to improve the country's ranking in World Bank's ease of doing business index. The Council in an official statement said that it believes that the Bill will boost economic growth by streamlining domestic supply chains and removing the compliance burden of contradictory state tax regimes.It added that the GST is also likely to make goods cheaper for consumers, increase competitiveness of Indian exports in international markets and boost India's GDP growth by 2 percent.

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