Telangana News

City retailers to implement GST on their own terms, waiting for the inventories to get cleared

Retailers are waiting for their old inventories to get cleasred before they start selling products based on GST. 

Published: 08th July 2017 03:31 PM  |   Last Updated: 08th July 2017 03:31 PM   |  A+A-

By Express News Service

 Even days after GST system rolled out, a number of retailers, especially electronic retailers have not yet implemented the system. Though experts state that the old tax system has become ineffective from July 1, retailers who haven’t cleared out their inventories have not implemented the old system. One retailer in CTC, the famous electronics corner in the city was seen billing products to June 30, when they were actually purchases post July 1.

“We will implement GST only after July 5 or so,” he told a few customers who questioned why they were being charged VAT at 5 per cent and not as per the new system. The customer is not at loss as they are are charged the said price. However, a part of the amount quoted and agreed by the customer is charged as tax on the bill dated June 30.

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