Indian enterprises gear up for GST

New Delhi: The Centres move to postpone goods and services Tax (GST) regime to April 1, 2011, has been greeted by Indian enterprises. The delay will give organisations a chance to prepare themselves and meet the challenges of the proposed tax structure.

The GST seeks to replace indirect taxes (such as excise duty, service tax, value added tax and state taxes) with a single levy to create a national common marketcurrently fragmented due to the presence of multiple levies.

An in-depth discussion of these points, and more, was held at a workshopSupply Chain Post GSTorganised by Accenture and DHL.

Participants, including a cross-section of industry leaders, spoke about old and new supply-chain strategies, challenges ahead and proposed logistics execution proposals. Speakers also stressed on the need to evaluate the current supply-chain structure (more adapted to harness fiscal benefits arising from differences in tax structures across regions) and gear up for reforms to align the distribution networks to suit customer markets.

The GST is also expected to bring about a transition from existing origin-based taxation regime to a destination-based one. Another area for concern that figured prominently in the meet was Enterprise Resource Planning (ERP). The meet stressed on consultation exercises with vendors to make the required changes using network strategy.

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