*GST Impact on Sectors/Companies in a Nutshell*

» *Banks* _Current Tax Rate 15%. After GST, 18%. Negative_

» *Consumer Staples* _Current Tax Rate 22%. After GST, 18%. Positive for Asian Paints, Dabur, HUL, Emami; Negative for ITC, UBL_

» *Consumer Discretionary* _Current Tax Rate 15%. After GST, 18%. Negative for Jubilant Foods, Cafe Coffee Day, Restaurant businesses_

» *Media & Entertainment* _Current Tax Rate 15% + 7% State Entertainment tax. After GST, 18%. Positive for Dish TV, Videocon D2H, BIG TV_

» *Telecom* _Current Tax Rate 15%. After GST, 18%. May see marginal dip in consumption_

» *Auto & Auto Ancillary* _Current Tax Rate 27%. After GST, 18%. Positive for M&M, Maruti, Bajaj Auto, Eicher Motors, Ashok Leyland, etc._

» *Metals* _Current Tax Rate 18%. After GST, 18%. No significant impact_

» *Cement* _Current Tax Rate 27%. After GST, 18%. Positive for UltraTech, Shree Cement, Ambuja Cement, etc._

» *Pharma* _Current Tax Rate 15%. After GST, 18%. Negative for Pharmaceutical co.s_

» *Real Estate* _Current Stamp Duty 15%. After GST, 16%.No significant impact_

» *Logistics* _No change in Tax Rate after GST. Postive for Container Corp, GATI, etc._fwded as recd.