A few second after the clock announced the beginning of 1st July 21017, the Goods and Services Tax was passed by the Government of India.
Under GST, goods and services are taxed at the following rates, 0%, 5%, 12%, 18%, 28% depending on the category they fall.
The Sensex has responded happily on this major change in the market. It closed with an increase of 300 points at 31,221.62 on the official working day – 3rd July 2017. Nifty too increased by almost 94 points and stood at 9,615.00 at the end of the day.