accenture goods and service tax

8/1/2019 Accenture Goods and Service Tax

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Goods and Services TaxResponding to an unprecedented opportunity totransform supply chain performance in India


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1

A bus journey beyond the

suburbs of most Indian cities

gives a glimpse of the supply

chain problems that dog the

nations businesses. But one

statistic really spells it out:

Logistics costs consume 15percent of the nations gross

domestic product (GDP)

compared with just 7 percent

of GDP in the US and 6 percent

in UK. India is not alone in this

respect, of course: In China,

logistics account for more than

15 percent of GDP, while in

Brazil the figure is 20 percent.1

Indian business leaders need no

reminders that the countrys

road infrastructure is poor

and freight rail movement is

disproportionately low despite

the expanse of rail networks

nationwide. Its well-known that

truck ownership is fragmented

and dominated by sole

proprietors and other elements

of the unorganized industry

segment. On the demand side,

retailing is highly fragmented,

characterized largely by theunorganized segment. And

Indias current tax structure

exacerbates the problem

because tax issues rather than

operational efficiencies dictate

the locations of stocking points

and other supply chain facets.

(See Figure 1.)

When designing andimplementing supply chains,

most business leaders take into

account the factors they are

familiar withfactors such as

the intensity of competition

and the preferences of their

customers. But now, with the

explosive demand that the

Indian market is witnessing and

with the coming introduction

of the Goods and Services Tax

(GST), it becomes imperative for

businesses to re-evaluate their

supply chain structures andstrategies.

1Indiastat.com


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Figure 1: Supply chain design is also a function of tax rates

Supply

Chain

Market

Responsiveness

Changes in

customer

preferences

Changes in

demand patterns

or growth

Competitive

Intensities

Cost

Efficiencies

Taxes or Fiscal

costs

Supply Chain Designs are impacted by factors either internal to the company or

governed by the market place or by the government.


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The economic imperative forsupply chain change


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The challenges in Indias logistic sector

are quickly coming to a head. Theprimary pressure point is economic.The Indian economy has grownstrongly since 2003averaging annualgrowth rates above 8 percentand isprojected to maintain that momentumuntil 2020. By 2025, India is projectedto become the world's fifth-largestconsumer market; a decade after that,forecasters expect it to be the worldsthird largest economy just after USand China.

A swelling middle class already propelsspending in Indias urban areas, andtens of millions more people willmove to the cities in the comingdecades. But the strongest growth willcome from the hinterlandsfrom aburgeoning marketplace of more than720 million rural customers. Yet it is inthe countryside where infrastructure isweakest, and where supply chains aremost in need of transformation.

The countrys rural economy was

largely untouched by the globaleconomic slowdown, blessed as it wasby four years of continuous growthin agriculture that have sent ruralincomes soaring. Rural demand forfast-moving consumer goods (FMCG),pharmaceuticals, automobiles, andconsumer durables is soon likely tomatch that generated in urban areas.

Both government and private industryare actively addressing the needs ofthe bulk of Indias population who live

outside of urban and suburban areas.The private sector is investing heavilyin product launches, research anddevelopment (R&D), and in capacityupgrades at manufacturing plantsfocused on the rural population.And the Mahatma Gandhi NationalRural Employment Guarantee Act(NREGA) is playing a part. Signed intolaw in August 2005, the NREGA is apublic-work job scheme designed to

improve the purchasing power of rural

communities; a third of the NREGAjobs are to go to women. The 2009-2010 union budget hiked the NREGAallocation to US$8.03 billiona bigboost to the rural economy.


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Coming soon: A fiscalcatalyst for change


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An upcoming move by the GOI will

act as a powerful catalyst for change.The introduction of a national goodsand services tax is expected to givebusiness leaders the push they needto transform their physical, financialand information supply chains. It willcompel them to look at their supplychains at a national level rather thanregionally.

The GST will significantly improvelogistics efficiency. It will speed themovement of goods across India with

a single consumption tax structurethat replaces the current multipletax system, which includes centralexcise, state VAT and service tax -- thesum of which can add as much as 30percent to the manufactured cost. Ifmanufacturers can align their supplychains with the new tax structure,they can expect to see real benefitsfrom decreased costs at each point insupply chainsavings that will helpthem become more competitive. At

the very least, alignment with the GSTwill give producers the opportunity tolower prices.

To reach Indias fast-growing markets

flexibly and cost-effectively and totake full advantage of the upcomingchanges in the tax structure, supplychains need to improve on threefronts: physical, financial, and in termsof the information flow that underpinsall supply chain transactions. Lets lookat each aspect in turn:


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Figure 2: Indias current tax structure and how it will look under GST

Services

State A

Import

Exports

Supplier

State A

Service Tax (10.3%)

BCD(10%)+AD(14%)

Excise Duty (10.3%)(Credit of Excise, ServiceTax and AD)

Excise duty (10.3%)+State A VAT (13.5%)

CST (2%)

State AVAT*(13.5%)

State AVAT(13.5%)

CST(2%)

State BVAT(13.5%)

Retailer

Retailer

VAT strives to eliminate cascade of taxes Central and state tax do not mix Many taxes (CST, Surcharge) still get cascaded

Tax % mentioned are based on close industry estimates

No credit for Excise and other central taxes available after goods move out of warehouses

Credit for CST not available at any point

BCD - Basic Customers Duty, AD Additional Duty

Present Tax structure

Supplier

State B

Factory

State A

Factory

warehouse

State A

Regional WHState A

CFAState A

DistributorState A

DistributorState A

ExportsSGST(5%) + CGST(6%)

Custom(10%) +SGST(5%) +CGST(6%)

SGST(5%)+ CGST(6%)- Full Credit of(CGST+SGST +IGST )

SGST(5%) + CGST(6%)

IGST(11%)

SGST-State A(5%)+

CGST(6%)(Full Credit)

SGST-State A(5%)+

CGST(6%)(Full Credit)

IGST(11%)-

Credit of(SGST+CGST+IGST)

SGST State B (5%) +CGST(6%)(Full Credit)

Retailer

Retailer

GST eliminates cascading of most of thecentral and state taxes

Interstate and intra state transactions havesame tax liability

Tax % mentioned are forecast.

PoE Port of Entry

GST Structure

SGST(5%)+ CGST(6%)-(Full Credit)

Services

State A

Import

PoE State A

Factory

State A

Supplier

State A

Supplier

State B

Factory

warehouse

State A

Regional WHState A

CFAState A

DistributorState A

DistributorState A


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The physical supply chain


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GST presents a opportunity to get business mandate re-design the supply chain independent of tax implications

Some relevant questions

Supplier Sourcing &

Purchasing

ManufacturingTransportation &

Distribution

Customer and

Markets

Which suppliers shouldsupply to whichmanufacturing sites?

Which categoriesshould we purchasefrom each supplier?

Can suppliers beconsolidated?

Can purchase prices berenegotiated with the

suppliers?

How will my long termcontracts with suppliersbe affected, any changein clause required?

What should be themanufacturinglocations?

What should wemanufacture at eachplant?

Do weshift/expand/removeexisting facilities?

Should we go for

contract manufacturingor self manufacturing(make vs. buy)?

How will thecompetitive scenariochange and how shouldthis impact ourmanufacturingstrategy?

Which DCs do we need?

Which markets andproducts shouldthey serve?

Where do we locate thenew regional DC?

Should we have aFactory DC?

What is the optimal

product flow?Direct shipments orstock transfers?

Who should be mylogistics partners?

Should we consolidatewarehouses?

Which are my currentand future demandclusters?

How should we designour logistics network tobest serve newgeographies?

Do we need to re-priceour products?

How do my working

capital requirementschange?

Warehousing

What is the betteroption - own thewarehouse or lease it?

What will work better self managing oroutsourcing?

10

The logistics challenges are the

most glaring. The nations physicalinfrastructure is substandard, to put itmildly. Roads carry more than half ofthe country's total freight. AlthoughIndia has one of the worlds largestroad networks, less than half of theroads are paved and less than 2,000kilometers are express highways.

Indias railways arent much betterfrom a logistics managers perspective.Since Indian Railways has a monopolyin freight and passenger trains, there

is an enormous strain on its existingtrack network. Indeed, Indias boomingtruck transportation sector has beentaking market share from rail, helpedby truckings relative speed overshort distances and its door-to-doorcapabilities. The nations port system isalso overburdened. Seventy percent ofseaborne trade is handled by two of its12 major ports, which run at 95 percentutilization ratesa number that lookseven less comfortable since Indias 180

minor ports go largely unutilized.

At the same time, warehousing

and distribution centers are poorlydeveloped compared to world-classstandards. Even the nations best-organized logistics players have fewofferings across multiple modes(air, water, rail, and road) or acrossservicesspanning transportation,warehousing and value-added servicessuch as packaging, cold chain, andcustoms clearance. Furthermore, Indialargely lacks the big trucking fleetscommon in the West; instead, thereare hosts of independent players withregional or national permits, most with

just one or two single-axle trucks.Low costs come from low wages (fewdrivers have much education), minimaluse of technology, poor equipmentmaintenance, chronic overloading,and cut-throat price competition.These factors combine to make itvery difficult for companies from theorganized segment to compete.

Efforts are under way to improve the

physical supply chain nationwide,and in every state. A few highlights:

The GOI has granted a 100 percent

income tax exemption for 10 yearsfor all road development projects.The National Highways Authority ofIndia (NHAI) is considering grantsfor viability gap funding for marginalprojects.2 At the same time, the NewDelhi government has decided toinvest about US$5billion to enhancerail routes nationwide.3 There areefforts to increase the capacity ofrail lines in critical traffic sectorsand to modernize signaling systems.Other initiatives are focused onstrengthening the track structure,standardizing the rail gauge, andopening container transport toprivate-sector competition.4 Anotherkey effort is the Dedicated FreightCorridor (DFC)rail lines that will beisolated from passenger traffic.

The GOI has also instituted its NationalMaritime Development Policy tofacilitate private investment in a bid toimprove service quality at Indias ports.

The government is also encouragingprivate investment from overseas,

Figure 3: Key questions about how the GST structure might affect supply

chain networks

2http://www.legalserviceindia.com/article/l306-Infrastructure-Investments-in-India.html3http://www.legalserviceindia.com/article/l306-Infrastructure-Investments-in-India.html4Enam Indias Report on Logistics Sector, Aug 2007


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permitting foreign businesses to own

100 percent of the construction andoperation of terminals and berths.And to improve air cargo efficiency,the GOI has made it mandatory for allnew airports to have separate cargofacilities.

The GST will begin to make adifference to decisions about thephysical supply chain, freeingexecutives from having to locatemanufacturing bases and distributionnetworks with tax benefits foremost in

mind and allowing them to think aboutoperating flexibility and efficiencyfrom the customers standpoint. (SeeFigure 3.) As such, the GST will putdomestic business leaders on an evenkeel with importers that do not needto pay consumption taxes.

The new tax is expected to reduce

the number of warehouses thatmanufacturers are required to maintainin different states, resulting in a bigincrease in demand for integratedlogistics solutions. Its very probablethat companies will move to newerand more centralized hub and spokedistribution models. (See Figure 4.)

The growth opportunity for 3PL playersis expected to come predominantlyfrom warehousing, which is likelyto be driven by the implementation

of VAT. At the same time, reduceddocumentation and lower overheadwill likely make 3PLs more efficient.The benefits should show up whenthe central sales tax is abolished.It is expected that internationalgiants such as retailers Walmart andCarrefour will spur the growth of 3PLsby making the use of those servicesmandatory for their suppliers.

Figure 4: A simulation on the effect of GST is done using the real supply chain

data of a CPG company.

A simulation was done using the real Supply Chain data of a major CPG companyTwo scenarios were run keeping the same demand and supply, changing the taxation structure

Number of active DC Locations 27Service Level (1 Day) 81.1%

Number of active DC Locations 19Service Level (1 Day) 81.1%

Scenario 1As Is network with CST,

Excise and VAT liability

Scenario 2As Is network with GST


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Key Facts Scenario 1 Scenario 2

# of DCs 23 17

1-day Service Level 81.10% 80.60%

Days of Inventory 45 32

Total Sales 676 676

Primary Freight Cost 4.82 4.62

Secondary Freight Cost 3.42 4.16

CST 0.88 -

Excise 57 -

VAT 85 -

GST - 135

* Al figures in crores* 1 day Service Level => 250 kms distance travel for secondary freight

* GST assumed at 10% State GST and 10% Central GST

* Primary Freight Cost is the transportation cost between the plants and the warehouses

* Secondary Freight Cost is the transportation cost incurred between the warehouses

and the customers

There is a reduction in the number ofwarehouses required to have the sameservice levels

There is a reduction in primaryfreight cost due to consolidation offreight

Secondary freight cost increasesbecause of increase in the weightedaverage distance between thewarehouse and customers

In the present tax structure, CST,Excise and VAT are the main taxeslevied. These are proposed to besubsumed in GST


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The financial supply chain


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The financial supply chain that supports

the tangible supply chain is equallychallenging for business leaders.Fees levied by carry-and-forwardagents (CFAs) are a burden. Accessto credit continues to be a challenge.And Indias complex tax structureis especially onerous. Sales taxesthat differ from state to state meansignificant diseconomies of scale fortrans-state logistics service providers.Although value-added tax (VAT) wasimplemented on April 1, 2005, it hasnot been implemented uniformlyacross the states. At the same time,

Indian transport firms have to payvarious other taxes and octrois, andface multiple check posts. Complyingwith the varied tax documentationrequirements of different states addscost and delay: On average, a vehicle onIndian roads loses between 24 and 48hours complying with paperwork andformalities at check posts en route.5

The introduction of the GST in itscurrent form is set to benefit cash flow.First, physical working capital costs are

likely to decrease as GST would be paidat the time of sale or supply and not atthe time of manufacture. Second: The

GST is expected to do away with excise

duty on manufacturing. And the newtax should open up broader availabilityof credit in inter-state transactionsapowerful lubricant for commerce.

The GST will make management ofcash flow much more efficient since itwill permit businesses to claim inputcredits from output GST obligations.Also, they can pay taxes with availablecentral GST (CGST), state SGST (SGST),and interstate GST (IGST) credits tothe state or the central government.Since GST payments affect cash flows,

it becomes essential to decide whetherto opt for cash-based accountingor accrual accounting. For instance,when considering the timing of theavailability of input tax credits, cashbasis refers to all payments actuallymade by the manufacturer during theperiod whereas accrual refers to allinvoices issued to the business in thatperiod. And when discussing the timingof the liability to pay GST, cash-basedaccounting applies to all paymentsactually received in the period while

accrual relates to all invoices issuedduring the period. [Right?]

The GST will affect the availability of

working capital. In the case of stocktransfers, working capital wouldreduce since GST is levied during stocktransfer but credit is given only whenstock is sold. The input tax credit (ITC)available can be utilized only the endof the supply chain, after the goodsare sold, which is a function of thelead times of the company. Comparedto the present scenario, the GST woulddelay the realization of cash, reducingworking capital.

The new tax will also increase the needfor working capital. It will be payablein lieu of service tax. Similarly, it comeson top of existing custom duties. Eventhough the credit for these taxescan be claimed downstream, moreworking capital will be needed if GSTis higher than the existing tax rates.Any unutilized credit for the CGST (8percent) and SGST will be refunded atthe end of the fiscal year, meaning thatcash in the form of utilized credit wouldbe locked until the fiscal year closes.Furthermore, tax exemptions available

presently will be converted into a cashrefund scheme, raising working capitalrequirements.

5Logistics Industry: Global and Indian Perspectives by Subrata Mitra95th ISM Annual International Supply Chain Management Conference Report, April 2010


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The information supplychain


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These days, those who run world-classsupply chains are attuned to the needto make their information supply chainsas efficient and effective as possible.They use IT tools to see far up ordown the supply chain to sense end-customer demand or supply constraintsand to help synchronize activities in

order to reduce costs and quickenresponses to fluctuations in demand.

India, however, does not have much ofan information supply chain to speakof. Little is known about what databuyers and suppliers use, let alone whatinformation they might share. Use oftechnology is quite limited, and thesiloed nature of the logistics sectoreffectively blocks easy disseminationof vital information about shipment

times, freight manifests, orderaccuracy, and much more. The paucityof information creates uncertainty,unnecessary paperwork and delays.The fragmented state of the sectorcreates another vicious cycle: It makesit much more difficult for technologiessuch as global positioning system (GPS)vehicle tracking and radio frequencyidentification (RFID) to catch on.

Indias business leaders understandthat they have to be able to capture

and analyze information related tocustomer needs and use it to improvetheir products and services in orderto remain competitive. So they areeager to assemble the collectionof information and communicationtechnologies necessary to collectinformation from discrete processes,transform this information fromdata into knowledge, and distributethis information efficiently and in atimely manner to the appropriate data

consumers.

The GST will help to enrich theinformation supply chain. It willremove the need for CFA agentssince businesses will no longer needto bother about taxation due tointerstate transfers. This will helpmake information visible much furtherup and down the supply chain and

make it easier to integrate processesfor sharing data such as demandsignals, inventory levels, alternatetransportation routes, etc. a definiteplus in terms of demand planningand inventory rationalization. Also,with stocks aggregated at fewerwarehouses, information managementcan improve, which in turn willimprove planning and assortmentavailability. In effect, CFAs cannow become bona fide third-party

logistics providers. At the same time,customers demands for more value-added services will boost the adoptionof technology solutions such aswarehouse management systems andtrack-and-trace offerings.

The same cannot be said of RFIDtechnologies. Although RFID isdesigned to enrich the flow of usefulsupply-chain information, it willnot yet become mainstream, andquantifying returns on investmenton RFID technology will remain achallenge.


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A major new opportunityfor business leaders


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This is not the place to get into thefiner points of taxation. Suffice it tosay that the GST will materialize insome form sooner rather than latereven though it is still the subject ofimpassioned debate and debate atstate and GOI levelsand even thoughthe tax structure faces hurdles before,

during and after implementation.Some of the issues still being hashedout include:

Uniform legislation for collectionof the tax at state and central levels,as well as binding agreement amongthe states to prevent unilateralamendments in their respectivelegislations. It will also be incumbenton the government to protect theinterests of the states that have lower

revenue potential.

Octroi and state permits will stillexist in the new regime, and thusmay be an impediment followingimplementation of the GST.

As yet, there is little discussionabout training of field officers toensure the smooth administration andimplementation of the GST regime.Nor does there seem to be a robusttechnology-based credit infrastructure

to support GST implementation.

The main point for business leaders isthat the GST is on its way, and theyshould be ready to use it as a keyrationale for transforming their supplychains. Here are several logisticsinitiatives that can be considered now:

Design a multi-tiered distributionnetwork to reduce the impactof unreliable transportation.Manufacturers will probably need

to adopt multi-echelon networksthat cover local, regional andcentral points. Since the GST canenable a reduction in the number ofwarehouses, companies can considerefficient hub-and-spoke distributionmodels. One of Indias leadingcommunications industry players iscurrently experimenting with thismode.

Develop inventory strategies thatcall for staging of inventory in themulti-echelon network. This wouldentail investments to create additionalcapacity flow, such as stagingfloor space. It is expected that thisinvestment would offset currently hightransportation costs.

Partner with a fast-growing 3PLprovider with demonstrated supplychain planning skills and expertisein areas such as operation ofwarehousing and distribution centers,after-market distribution, fleetmanagement, and logistics networkmodeling. Major international playersin the electronics, communicationand cosmetics industries are alreadypartnering with leading 3PLs in Indiato be ready for the challenges ahead.

Major Indian companies in the powerand resources industries are partneringwith 4th party logistics providersthus leveraging the competencies ofboth 3PL providers as well as leadingconsulting and technology firms.

Build core logistics teams on theground in the markets being served.The teams would be responsible for:scoping out and building relationshipswith service providers in the region;determining criteria for selectingsupply chain partners; being familiarwith inter-state regulations to removeprocedural snafus; and managing localoperations.

Take advantage of growth inthe telecom sector and invest intechnology that enables bettertracking and reporting capabilities.Most Indian companies have alreadystarted using techniques such aspalletization and are now turning to

technology tools such as warehousemanagement systems software.The next wave of technology use isexpected to involve RFID for pallettracking and returnables and GPS fortracking of vehicles, especially in thefood and fast-moving consumer goods(FMCG) sectors.

Increase asset utilization by buildingshared infrastructure in warehousing,distribution and transportationspace. This investment would cutcosts in the short term but it couldalso be a source of extra revenue inthe long term when proper supplychain maturity is established. 3PLs

are expected to be prominent playersin the effort to better use assets.Some FMCG companies are alreadymoving in that direction with their 3PLpartners.

Make use of cross-dockingtechniques. With the inception

of GST, companies need far lessdocumentation for the inter-statemovement of their goods, makingcross-docking an attractive wayto further reduce costs. Leadingglobal players in the electronics andcommunications industries have beendoing this for many years outsideIndia. Now they are keen to implementthe same techniques in their Indiandistribution networks.

When the GST finally takes effect, itsinitial impact will be to hike supplychain costs. Companies will have tomaintain parallel networks and investin new facilities; truck owners willalmost certainly purchase larger-capacity vehicles, and more of them.On top of that, the governments taxinfrastructure may not be ready topass on the GST credits.

Nevertheless, the GST affords anunprecedented opportunity to improve

supply chain efficiency all acrossIndia. It will help improve operatingperformance in small- and mid-sizedbusinesses as well as large nationaland international enterprises. Andit will help many of Indias foremostcorporations close the gap with theirglobal competitors in crucial functionsthat, until now, they have hadrelatively little power to improve.

Now is the time for Indias businessleaders to act on the opportunity.Their customers will be expecting it.And their shareholders have a right todemand it.


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and governments. The companygenerated net revenues of US$21.6billion for the fiscal year ended Aug.31, 2010. Its home page is www.accenture.com.

ACC10-2611 / 11-2504

About AccentureManagement ConsultingAccenture is a leading provider ofmanagement consulting servicesworldwide. Drawing on theextensive experience of its 13,000management consultants globally,Accenture Management Consultinghelps clients move from issue tooutcome, with pace, certainty andstrategic agility. We enable companiesand governments to achieve high

performance by combining broadand deep industry and functionalofferings and capabilities across sevenservice lines: Customer RelationshipManagement, Finance & PerformanceManagement, Process & InnovationPerformance, Risk Management, Talent& Organization Performance, Strategy,and Supply Chain Management.

Authors

Anurag SekhriAnurag Sekhri is a Partner and amember of Accentures Global SupplyChain Practice, specializing in SupplyChain Strategy. A specialist in FastMoving Consumer Goods, he has led

several transformational programmesspanning European Operating Models,Retailer/ Supplier Collaboration,Innovation and Tax OptimisedStructures. Anurag can be reached [email protected].

Ganesan RamachandranGanesan Ramachandran is a seniormanager in Accenture's Supply ChainManagement Service Line. He hasmore than 17 years of experience in

supply chain management spanningfrom vendor development to servicemanagement in a variety of globalcompanies. Ganesan has experienceworking with companies in theautomotive and consumer goods &services industries. Based in New Delhi,India, he can be reached at [email protected].

Accenture Supply Chainpractice in practiceAccenture Supply Chain Managementconsulting services help clientsacross a broad range of industriesto develop dynamic supply chainsby aligning operating modelsto support business strategies,optimizing global operations, andenabling profitable product launches.Committed to helping clients achievehigh performance through supplychain mastery, we combine globalindustry expertise and skills insupply chain strategy, sourcing andprocurement, supply chain planning,manufacturing, product design,fulfillment, and service managementto help organizations transform

their supply chain capabilities. Wecollaborate with clients to implementinnovative consulting, technology andoutsourcing solutions, and enhancethe skills and capabilities of the supplychain workforce. For more information,visit www.accenture.com/supplychain.

DisclaimerThis Report has been published forinformation and illustrative purposesonly and is not intended to serve asadvice of any nature whatsoever.The information contained and thereferences made in this Report is in

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