Impact of Implementation of GST among Retaile...

Impact of Implementation of GST among Retailers

Author Name : Dr. S. P. Krishnaveni

ABSTRACT

The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, at last looks set to become reality. The Constitution (122nd) Amendment Bill finally got the nod of Rajya Sabha. Government successfully stitching together a political consensus on the GST Bill, to pave the way for much awaited roll out of the landmark tax reform that will create a common market of 1.25 billion people. Retail refers to the activity of reselling. A retailer is any person or organisation is a reseller who sells good or services directly to consumers or end-users. Some retailers may sell to business customers, and such sales are termed non-retail activity. In some jurisdiction or regions, legal definitions of retail specify that at least 80% of sales activity must be to end-users. Hence the present study is focused in the areas of FMCG, Textiles.

Key words : GST, Retailers, FMCG