Role of GST in inventory management
Journal Title: International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) - Year 2017, Vol 4, Issue 3
Abstract
GST seeks to unify the entire country into a single market with only one value- added tax levy on all the goods and services across states at the point of consumption, subsuming up to 16 different taxes and levies that are imposed at present. This is expected to make the movement goods across the state borders smoother, faster and easier. GST council has raised the limit on input tax credit against excise duty payment to 60% from 40% of GST liability on items with tax rate above 18%, bringing some respite on sale of inventories stocked up before the implementation of new tax regime on July 1.
Authors and Affiliations
Payal Sharma, Tapesh Chandra Gupta
Keywords
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