Following the introduction of the goods and services tax (GST), the reduction in area-based benefits that manufacturing units enjoy in some hill states and in the northeast have left many companies in a tizzy.
Key sectors that have been impacted are consumer goods, automobile, and pharmaceutical. Some firms are even contemplating whether to take the legal route to challenge the reduction in benefits under the new indirect tax regime on the basis of promissory estoppel, a legal principle that a promise is enforceable by law, even if made without formal ...
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First Published: Thu, January 04 2018. 00:18 IST
