The Goods and Services Tax (GST) may take a toll on corporate earnings for the April-June quarter of FY7-18 and the overall earnings are likely to be muted, believes Harsha Upadhyaya, Chief Investment Officer, Equities, Kotak Mutual Fund.
"Overall earnings growth is going to be muted with GST related adverse impact due to destocking and discounts in a couple of consumption-related sectors and export/global oriented businesses continuing with sluggish trend," Upadhyaya said.