>>
Home / Knowledge / News / Apparel/Garments / GST may raise gains by 5% in 3 years: Indian retailers
GST may raise gains by 5% in 3 years: Indian retailers
25
Aug '17
The goods and services tax (GST) regime may increase overall benefits of retailers by up to 5 per cent over the next three years due to gains derived from supply chain efficiency, better capability for sales growth and ease in shipping items without the cascading impact of tax, Retailers Association of India (RAI) CEO Kumar Rajagopalan has said.

Convenience in shipping will ensure availability of items to customers and retailers may not need to keep stocks in various places, which will reduce wastage, Rajagopalan told the RAI conference on ‘Retail in the age of one nation, one tax’ in Mumbai recently.

Representatives of various retail companies discussed the pros and cons of the GST regime at the conference. Some retailers feel the transition period of six months to offload stocks may not be enough for a few sectors like jewellery and furniture.

Hailing the GST regime for not creating any disturbance in the Indian retailing business community, S Kannan, chief financial officer of Arvind Lifestyle Brands, said compliance regarding filing of returns and documentation was, however, not up to the mark.

Retailers can take advantage of input credits with the GST tax rate that takes into account all benefits and up to 25 per cent increase in logistics and delivery lead time has also been observed, Kannan said.

Future Retail executive director Dinesh Maheshwari pointed out the lack of clarity on passing on benefits from input tax credit that was unclear at the stock keeping unit (SKU) level.

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Anton_Ivanov / Shutterstock.com

Retail | On 27th Jan 2022

UK retail sales volumes fall at fastest rate in 11 months in Dec 2021

UK retail sales volumes fell by 3.7 per cent in December 2021, the...

Pic: Shutterstock

Textiles | On 27th Jan 2022

New train route links China’s Suzhou city to Milan in Italy

A new China-Europe freight train route has been started between...

Pic: Shutterstock

Apparel/Garments | On 27th Jan 2022

UN-WTO report underrates Bangladesh's RMG industry progress: BGMEA

The recent United Nations-World Trade Organisation joint report has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Dhiraj Shah,

Dhiraj Shah

The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), set...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Juan Pares Boj,

Juan Pares Boj

Textil Santanderina is a cutting-edge textile company located in...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

IDH – The Sustainable Trade Initiative
PVH Corporation
J ;& P Coats
THE BOMBAY DYEING ;& MFG.CO. LTD
Sateri (Jiujiang) Fiber Co.,Ltd
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Arvind Limited
Abit
LC Waikiki
Helly Hansen Far East Ltd
Alix Partners
Under Armour Global Sourcing Ltd
SHAHI Exports Pvt Ltd
Restoque S.A.
Rosset ;& Cia Limited
Varner AS Retail
MAS Active / MAS Kreeda / MAS Bodyline
Lisa S.P.A.
Page Industries Limited (Bangalore)
Huntsman (Singapore) Pte Ltd
C;&A Sourcing International Ltd
Sainsbury's Argos Asia Limited
NITI Aayog
Boardriders Asia Sourcing Limited
Landmark Group
Desigual - ABASIC, S.A.
Sportswear Company Spa
Cat Tuong Real Estate Group Joint Stock Company
KIABI
Groz-Beckert East Asia LLP
Reiter India Private Limited
Asos
BIANCA
Sportmaster Ltd.
Esprit Europe Services GmbH
Lacoste (Wanchai)
Green Fibre
BIMBA ;& LOLA SL
Permoda(Koaj/Armi/Pronto/Bkul)
Hirdaramani International Export Private Limited
International Textile Manufacturers Federation
Lenzing Aktiengesellschaft
Tommy Hilfiger
Gloria Jeans
The LYCRA Company Singapore  Pte. Ltd
Truetzschler India Private Limited
IKEA of Sweden AB
OVS Hong Kong Sourcing Ltd.
The Top Form Brassiere Manufacturing Company Limited
G-Star Raw C.V.
Gokaldas Exports Limited
Midas Clothing Limited
Decathlon
Chori Company Limited
Amazon China
Babyshop
Splash
Gap International Sourcing Limited
Vianney Textil Hogar S.A. De C.V.
Benetton Group
Aquarelle Clothing Limited
Puma
H;&M Hennes ;& Mauritz (Far East) Ltd
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Vardhman Textile Ltd
Rayonese Textile Inc., Division de Culp Inc.
KAS Direct Sourcing
Hela Clothing Pvt Ltd
Chico’ FAS
Alison Hayes Romania
Tory Burch Hong Kong Ltd
Guess Europe Sagl,
John Varvatos
Etam Group Strategy Hong Kong Limited
Aramark Uniform ;& Career Apparel, LLC
Brandix Lanka Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Recron Polyester from Reliance Industries Limited
Target Corporation (MN)
Phong Phu international JSC (PPJ)
Bluestem Global Sourcing Limited
Gatsby Africa
Calvin Klein
Lululemon Athletica Inc
Eastman Chemical Company
Lifestyle
Maceton Limited
TESCO INTERNATIONAL SOURCING LIMITED
Walmart
Grasim Industries Limited

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search