central board of direct taxes earlier this year of transactions in penny stocks on the countrys bourses the analysis was based on data obtained through market regulator securities and exchange board of india and from some investigation agencies like the investigation directorate and enforcement directorate proactive liquidity management should facilitate more passthrough it however remains to be seen the impact on the cost of funds for banks and how soon they start cutting rates on goods and services the essence of gst is that all goods and services be taxed at moderate rate so in the long run it is expected that the burden of gst on common man will be reduced by anita rastogi partner indirect tax pwc preetam singh associate indirect tax pwc views expressed by the author are personal