 "GST, tax, taxes, I-T, income tax")
The goods and services tax (GST), the biggest tax reform since Independence, is likely to lead to much disruption in trade as transition fears grow in the run-up to its introduction on July 1.
Retail and wholesale trade Business Standard spoke to (across fast-moving consumer goods, durables and pharmaceuticals) admit they remain unclear about transition gains and losses, prompting them to scale back on inventory requirements by 50-70 per cent from current levels.
“I am speaking to manufacturers on a daily basis to understand what is the tax I land up paying and what is the reimbursement or input credit
