GST rollout: Producers, traders feel taxed

Pharmacists in many cities sent mails to some of their clients to stock up their essential drugs before the GST rollout from the next month.

Ahead of the Goods and Services Tax (GST) implementation from July 1, various retail stores have announced big discounts on electronics, home appliances, clothes, footwear and other items. 
 
Further, pharmacists sent mails to their clients in various cities to stock up their essential drugs before the GST rollout.
 
The discounts and such announcements come despite the GST Council increasing input tax credit to 60 per cent from 40 per cent on stocks lying unsold up to June 30.
 
Moreover, such mails are sent due to apprehensions arising from the July 1 rollout of the GST, India’s biggest-ever indirect tax reform.
 
Retailers and manufacturers are behaving in such manner as they are not sure of how the GST rates that have been announced will affect prices. 
 
(Source: Hindu Business Line)

Event date: 
Thursday, June 15, 2017

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