Implementation of the GST Bill will fast-track the distribution of goods and services and improve operational efficiencies
Finally, after a debate that went on for over half a decade, the Goods and Services Tax (GST) Bill has been passed. This indirect tax Bill, which is expected to result in a uniform tax across goods and services, except petroleum, alcohol, tobacco and selected products, will change the way industries, logistics and supply chains operate.
While teething troubles are expected in various areas, including the definition and valuation of goods and services under various circumstances, the Bill, set to come into force on April 1, 2017, will optimise production, inventory and distribution nationally.
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