Industrial and trading houses were advised by experts to start aligning their operations, especially in the area of supply chain management, in tune with the new Goods and Service Tax (GST) regime that is likely to be in place by October 2012 or April 2013. The tax experts, addressing representatives of business houses at a seminar organised by the CII here, felt that companies should set up their internal GST steering committees to study the impact of the new tax regime on their operations. One of the areas that GST will make a profound impact was identified as supply chain management. “The new tax regime will change the entire existing supply chain structure, right from procurement (of raw materials) to manufacturing and distribution.
Source: thehindubusinessline.com
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