But the lack of clarity on transitional gains and losses under GST have forced sellers, especially those who operate only online, to clear their stocks through discounts. "Despite the input tax credit, we will have to shell out 7% of the tax from our pockets," an online seller said. Incase of items attracting GST of 18% and above, the deemed credit is increased from 40 to 60%. These steps will help curb the return of consumer durables and FMCGs back to brands ahead of GST. "The return rules and other provisions will help clear the air," the executive said.

Source: Economic Times June 04, 2017 23:15 UTC