NEW INDIAN GST SYSTEM DEPRESSES PERSONAL CARE PRODUCT TRADE
July 1st, 2016
THE COSMETICS and personal care product trade in India has slowed dramatically following the adoption of a national Goods and Services Tax (GST) on July 1. GST replaced a wide range of other central and state government sales taxes with a streamlined value added tax system, designed to rationalise the operation and location of warehouses, hastening the transport of goods.
However, by insisting on the transparent online logging of GST returns, many Indian businesses despise GST as it has also minimised tax evasion, which is rampant in Indian retail trade. This ...
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