HOW GST IMPACT STOCK AVAILABLE TILL 30TH JUNE

Goods and Services Tax (GST) is considered to be the
biggest tax reform in independent India.
As the deadline comes closer, small and medium companies as well as
large enterprises are working on the transition from VAT era to GST regime. No
doubt, this transition won't be an easy task especially for those who are
linked with fast-moving goods, durable, pharmaceuticals. Nevertheless, cutting
down inventory levels is not an easy task either. Already inventory correction has started
across various sectors. Instead of lifting stocks for two months or so, the
companies are taking up stocks for 10- 12 days.
Understanding the problem
The biggest question going around various quarter is – what will happen to the stocks sold after June 30. Incidentally government had already announced that trade across various categories will get 40% reimbursement of the tax paid portion only. In this regard, one can certainly highlight Section 167(1) of the revised Model GST law which clearly states tha…
Understanding the problem
The biggest question going around various quarter is – what will happen to the stocks sold after June 30. Incidentally government had already announced that trade across various categories will get 40% reimbursement of the tax paid portion only. In this regard, one can certainly highlight Section 167(1) of the revised Model GST law which clearly states tha…