GST and its powerful impact on logistics and warehousing

The year 2017 has been a year of major economic reforms for our nation. At first, demonetization shook the nation for good and then the passing of GST bill unified the taxation system in the country. The history of GST goes back to the year 2000 when it was first brought into light by PM Atal Bihari Vajpayee. Although it took a good no. of years to implement GST, it has finally nullified the cascading effect caused by the previous indirect taxation structure. You’ll be surprised to know that our neighboring nations of Indonesia, Thailand, Singapore, and the Philippines implemented GST in their countries in the early 1980’s and 1990’s, and thus gave birth to a very effective tax system.

1

Pic credits: lawctopus.com

Before we jump into the details of the Goods and Service tax (GST), it is important to have a look at the previous taxation system implemented in the country.  Before GST was implemented, VAT was prevalent in the country, and it caused a cascading effect under which tax on tax was calculated and was paid by every purchaser involved in the supply chain. In this taxation system, the tax liability was passed-on at each stage of the supply chain and finally fell on the shoulders of the end user. This is defined as the cascading effect of the tax, wherein the tax is paid on tax, and the value of the good increases each time it happens.

Now, in the case of Goods and Service tax (GST), there is an option to claim credit for the tax already paid during acquiring the input product. This means that each time an individual claimed input tax credit, the sales price for him reduced, and the cost price for the person buying the product is reduced because of lower tax liability. As a result of this, the tax burden on the final customer is also reduced substantially.

Now that we have understood the basic difference between the previous taxation system and GST, we can say that GST is a multi-stage tax that is levied on each value addition. Besides this, GST is also destination based, it is levied at the point of consumption. For instance, if goods are manufactured in Uttar Pradesh and sold in Tamil Nadu, the entire tax revenue will go to Tamil Nadu. Let us further have a look at the components of GST –

2

Pic credits: pinterest.com

CGST: CGST is collected by the central government on intra-state sale

SGST: SGST is collected by the state government on intra-state sale

IGST: IGST is collected by the central government on inter-state sale

This means that when the sale happens within the state, both CGST and SGST (9% each and a total of 18%) will be charged, whereas, if the sale happens between states, only IGST (18%) will be charged. GST brings a unified taxation system to the country, wherein only one tax must be paid in the case of inter-state sales. This replaces the old regime where two different taxes had to be paid (central sales tax + excise/service tax).

GST has boosted the economy of India by removing the indirect tax barriers in-between the states and establishing a uniform tax rate throughout the country. This also means that the business sector in India is booming with the implementation of GST.

Now let us understand how GST positively impacts the logistics and warehousing sector.

Reduction in the number of warehouses

3

Pic credits: relumination.com

Until now, the companies had a big warehouse in each state due to the different taxes imposed in the states. This led to increase in storage costs and poor infrastructure. Besides this, disorganization could be seen in the warehouses. But now that GST is implemented, there is uniformity in the tax rate throughout the country. This means that the companies no longer have to pay different taxes in different states. Companies can now have a single, big, warehouse at a central location. This big warehouse can be used to supply goods to the other states and thus decrease the number of warehouses. Companies can now choose or book the warehouses based on the hub and spoke model (A distribution model arranged like a wheel in which the traffic moves along the spokes connected to the hub at the center)

Better control on inventory

4

Pic credits: pinterest.com 

The taxation system that was followed by the implementation of GST leads to a lot of complications when it came to warehousing. Many times huge inventory was set up and at other times the warehouses ran out of inventory when the demand rose. But with GST in the picture, inventory efficiency will be impacted positively. As there will be fewer stocking points, there will be fewer chances of stock-outs. Using economies of scales, the companies would be able to make better forecasts about the future demands, and thus keep the supply chain process up and running.

Implementation of technology

5

Pic credits: cerosis.com

As discussed above, GST will reduce the number of warehouses. This means that the consolidated warehouses would be at a central location and would also be larger in size to accommodate the inventory. Thus, properly planned warehousing systems can be implemented in these warehouses. State of art planning is not possible in the small and scattered warehouse but can definitely be implemented in a bigger warehouse. The use of latest technology in the warehouses shall ensure improved service and will also lower the overall cost of operations.

Organized warehouses

6

Pic credits: pinterest.com

The current setup of warehouses in India is quite unorganized. Research suggests that companies have between 20 to 30 warehouses in each state of the country. With GST in the picture, the companies will reduce the no. of warehouses, which will automatically lead to a more organized structure. Further, it will also result in an increase in overall efficiency.

Cost saving

7

Pic credits: censis.com

As the warehouses will become more organized, the cost of logistics shall also come down. As a result of this, both – the logistic service providers as well as the end customers, shall be able to save money.

Want to experience a unique supply chance experience, powered by technology + process, to build value for your business? If yes, then contact BoxMySpace today!

Advertisements

Office Storage Tips That Make You More Productive

After a long day at work, all you want to do is shut the laptop off, dump the huge pile of paper work in the drawer and run home. Well pretty much all of us are in the same boat. You then wonder how the other colleagues have everything so well managed. Well it is simple; they are organised and time conscious.
There are a number of business storage experts in Mumbai out there that help you clean up your office documents. A relatively neat and orderly office space clears the way for higher productivity and less wasted time.

Business Storage in Mumbai

(Image source – Pexels)

We have compiled a few simple organization tips that will bring the best out of you!

Spare a few minutes every day to rearrange your workspace and keep it fresh and lively. You will later be happy with this small disciplined approach that will trickle down to your job too.

Great Tips to Organize Your Office Space

  1. One at a time – At a workplace, there are plenty of projects you’re involved in. This leads to clutter, less space and more panic. Make use of the shredder installed in the office. Look around. Sift through the old documents and shred them away. Sometimes a couple of decorations from last year’s party are still on your desk. Do away with it.
  2. Dissect the workspace – Congratulations on the new big office, now aim for organization and productivity. Have a mental picture of your office space. For eg: You’ll probably have a main desk, then a corner for the shelves and binders. Dedicate a space in your office with great ease.
  3. Label everything – Visit your local hardware store and you will get a label maker for cheap. Give all the important areas of your workspace a small label. For example: Label shelves, bins, baskets drawers. Not only will it remind you where things go, but it will also help others who may have a need to find, use, or put away anything in your workspace.
  4. Filing system – We have all moved to a digital world. So if one visits an office, you will see more desktops and laptops. Alternatively, if you do store older important business storage documents, by putting on a label, the next time you can find it in a jiffy. Make sure you are doing regular back-ups.
  5. Clear desk – This should be your first job. Just remove everything from your desk that doesn’t need to be there. Keep only the essentials or daily use. What you do with the rest of the things, well place them in their right places.

Warehouse Storage in Mumbai

(Image source – Pexels)

6. Organize your table-top – Make use of food containers to place your things. It is a great way to save money, get things organised and two thumbs up on utilizing everything.

7.Organize your drawers – Put items used together in the same drawer space, sticky pads with notepads, etc. Use drawer organizers for little items – paper clips, tacks, etc. If you have read our previous office blog posts, we have covered a little bit of business storage in Mumbai tips for you.

8.Clear that tower of folders – So the process of organization has set in. Now it is up to you to follow it graciously and to the letter. If at a time there is a huge pile suddenly emerging, go through them and put it in the appropriate place.

9. Archive files and weekly filing – After you complete a project, remember to archive it in your file vault. This way you automatically increase the space on your desk. Another practice is to file weekly so you start with a fresh slate every Monday.

10. Others and more – There are other plenty tips you can find online. This mammoth task will pay off for sure. You will increase your work efficiency, manage time better and get rewarded that promotion at last.

Business Storage in Mumbai

(Image source: Pexels)

For any business storing concerns you have, give us a call at BoxMySpace on 8767252252  and we would be glad to help you out.

Until then,

Happy Boxing!

What Are Your New Year Resolutions?

So an eventful 2016 comes to a close, filled with good and bad memories. What awaits in the year 2017 will be exciting nevertheless. But how many of us really stick to the list we make to improve ourselves? A handful at most isn’t it? A better action is to keep a resolution to change one day at a time.

Home Storage in Mumbai

So in the New Year, let us as human beings, resolve to change our habits, attitudes and lifestyle for the better.

In a simple statement: We need to get mentally tough, keep our heads down and prod through the obstacles.

In other words, do not keep an audacious goal. Work within your limits and surely, it can be met one day at a time.

Goal-setting, while admirable, is essentially pointless. Goals, in and of themselves, aren’t sustainable. They tell you where you want to go, not how you’re going to get there. You must have a mission in mind; whereas goals are just purely milestones.

Pick up a new hobby, get rid of old habits, bring a change within you.

Home Storage in Mumbai

Note down, dream it, and achieve it.

Here are three important ones worth mastering, if you want to be better this year (at cleaning, organising, or anything else):

Like the old saying goes; practice makes perfect. Whenever you find the time, make sure you practice the idea of organizing. Be it early morning just after your breakfast, or during the evening when you have an hour to kill after tea. This plan will take time to shape up but you will be glad you started it with great vigor. Trust us when we say, you will feel a sense of pride and joy with this activity.

Cleaning is a very important task in the overall process. Do not just dump things at random. You will suddenly find a pile of garbage (clothes and other things) and will be in a fix. Rather, take time of your busy schedule and clean up the house, one room at a time, or if you are at office, straighten your drawers and work desk. Research says, cleaning can help you release the stress and also increases your productivity ten folds.

Home Storage in Mumbai

Learn to be self disciplined and follow a system that works for you. At times like these, remember to be playful; have fun. Remind yourself why you are doing this, a small exercise in cleaning or organizing will bring joy towards the end.

So always remember to practice, plan thoroughly and finish the work started by you. Use this mantra and there will be rewards at the end of this mammoth journey.

For any storing concerns you have give us a call at BoxMySpace on 8767252252 and we would be glad to help you out.

Until then,

Happy Boxing!

Is Your Home Ready For Christmas?

Christmas is just days away and you can sense it in the air. The trees are being decorated, families visiting each other, clothes being traded in for warmer ones and some good wholesome family food being prepared. With all of this going on in the background, are you still dreaming of a clean and organized Christmas at home, right here in Mumbai?

So before the house bell rings let us help you tidy up and bring a welcoming feel into your lovely home.

Home Storage Services in Mumbai

(Image source: Google)

Wear your rubber gloves, bring a calmness into your chaos prepare, organize and clean. Make this holiday a truly memorable one!

Take one room at a time; what really needs your attention, the living room where the party will take place, or the bedroom which was recently painted – the choice is yours. Get started into smaller targets and finish them of your list!

Stress not, it is a simple, step by step progression. You’ll learn to stop dumping things in corners and begin to calmly clean and organize. At the same time, you’ll tackle a few holiday preparations side by side, like bringing home ingredients for a sumptuous for dinner, a little bit of sweets and so on. Your goal: Make your home feel Christmassy!

By mid week you will slowly see a change in the house. It gets more airy, your home in Mumbai will look like a good face lift. Your home will look more organized and ready for the celebration.

Home Storage in Mumbai

(Image source: Google)

MAN WITH A PLAN

Gifting is a big part of the Christmas holidays. It shows how much you love the dear ones. Formulate a list of all the presents you need to buy. Multi tasking is always fun and saves you a lot of time.

From gifts to new Christmas decor, cooking ingredients and other miscellaneous stuff; assign a list and break them down into easy-to-manage baby steps.

Ask for help from another family member. Delegating a few tasks will help burn-out and you won’t skip out important events before Christmas. You’ll be relaxed and ready to celebrate when the season arrives.

Finally, let’s do a recap of how to get things done. Here’s a little secret, keep a small notebook at the side to track and record all the little things, which make the celebration special.

Home Storage In Mumbai

(Image Source: Google)

Remember, dedicate each day to a room and start decorating them as you g along. So now for the next time any holiday arrives, you will have an organization binder. A total go to book for all the ideas you need. All of it right at your fingertips.

If you browse the Internet you will find more options. But why waste your time when you can simply look up BoxMySpace or call on 8767252252. We would be happy to help.

Until then give us your ideas in the comment section, we would love to her from you!

Happy Boxing and from the BoxMySpace team, MERRY CHRISTMAS AND A GREAT NEW YEAR to all!

How to Live Comfortably In A Small Apartment

Mumbai, the city that never sleeps and where people across the country come flocking in to chase their dreams. It all happens here but at a cost. A steep cost in fact. All you see on the television with the lavish food, houses etc. But now Mumbai gives you match box houses. Tight storage spaces where you can’t move and you feel like the walls are creeping in. Fortunately, living comfortably and affordably in a small apartment is a possibility.

Step by step go ahead and re-think and re-design the space available:

  1. Bedroom

Renting furniture is moderately cheap these days with a number of e-commerce options. What do you want in your bedroom? A bed of course! What if you could get a folding one which also translates into a couch? Even better, isn’t it? Next, a light décor can work wonders. Make use of tall decorative elements which can give the illusion of a larger space. Storage in Mumbai can always be an issue in the bedroom, so get creative with your use of the space by taking advantage of the area under the bed to stow unwanted or bulky items. Put on your thinking cap and see what and how things can be used.

Home Storage In Mumbai

(Image source: Pexels)

  1. Kitchen

If it looks good, it will taste good for sure. What are we talking about here? Well it is the soul of the house – the kitchen! A well organized kitchen in a small apartment is always a welcoming sight. Keep the utensils and plates within arm’s length and the rest, store them over board. Keep clutter to a minimum and your brown appliances smaller.

Home Storage Services in Mumbai

(Image source: Pexels)

  1. Living Room

Like the bedroom, use the same mantra here. These days a lot of furniture has built-in storage available. You can store books, bed sheets, unused clothes etc in them. This provides a perfect home storage solution to comfort without having to sacrifice space. In our previous blog posts, we spoke about how certain elements add to more space such as mirrors, use of light and so on. Make an impression!

Home Storage In Mumbai

(Image source: Pexels)

 

  1. Bathroom

Lastly we come to the bathroom. Not much you can do with the smallest room of the house but nevertheless. Go simple and go monochromatic. This way, it gives an illusion of a grander room with a lot of space. For all your toiletries and other cleaning solutions, make use of the under the sink storage. If possible, install a few simple shelves for your soaps, towels, toothbrush and tooth paste.

Home Storage In Mumbai

(Image Source: Pexels)

Let us hear your ideas in the comment box. If you need help, then simply look up BoxMySpace or call on 8767252252. We would be happy to help.

Until then Happy Boxing!

Clever Home Storage Tips

Where do I store this and that? It is the first question that pops into our head. Yes, home storage facilities in Mumbai is paramount with match box houses these days. Go online and you have an array of ideas to get you started. But some of them are totally outlandish. Therefore, we have got you the perfect mix to get you the maximum storage space in your home.

Bedroom Storage

ROLL IT IN

Chest drawers are come into fashion once again. Couples when designing their homes think of storage first. Chest drawers are the answer. You can just slot them under the bed and automatically save a lot of space. Best of all! It is easy to gain access to your things without fearing the cupboard to burst open.

CLOSET ADDICT

Another storage tip for clothes is big wardrobes. Yes, these days due to the space limitation, installing a rolling wardrobe is a great boon. You have the luxury of having a big rolling wardrobe without giving up too much floor space. Try it out.

DIVIDE AND CONQUER

Divide your wardrobe into smaller boxes, and you will find more space instantly! In fact, with a proper storage plan you can start labeling the various spaces, so you find the things easily.

Home Storage Solutions in Mumbai

(Image source: Pexels)

Kitchen Storage

GO MINI STORAGE

The brown goods in your kitchen should be tiny and functional. You are not running an eatery, so spend less money on buying bulking products. What this does is, you can divide your kitchen into various sections and storage of these items is easy.

CORNER THEM

One home storage space in Mumbai no one pays attention to is the corners. Convert the corners of your cabinet storage and you will see a vast difference in your kitchen. More free space equals to tastier food. The cook of the house will be happy for sure.

CUT IT OUT

Your cutlery too, needs to be stored somewhere. Why not have unused mason jars turn into containers for your sharp knives? You can also store the forks and spoon and label them. Easy to find and saves a lot of time.

Home Storage Solutions in Mumbai

(Image source: Pexels)

Living Room

FUNCTIONAL FURNITURE

If you read our earlier posts, nowadays furniture plays a huge role in designing a home. People look for multi purposes within a product. So carpenters have acknowledge this and come up with unique answers. Your furniture/sofa now has place to store your books and have a mini library.

TELEVISION STORAGE

You can now store your DVDs and CDs behind your LCD TVs and have a movie library without building a new extra cabinet. Call us for the next movie screening. We will bring the popcorn and coke!

HIGH STORAGE

Make full use of the home storage space between the door and the ceiling by installing a full storage shelf. Not only does it use a previously unused area, it also creates a nice featured wall effect to the room.

Home Storage Facilities in Mumbai

(Image source: Pexels)

This is just scratching the surface when it comes to designing the house you live. If you browse the Internet you will find more options. If you need help, then simply look up BoxMySpace or call on 8767252252. We would be happy to help.

Until then give us your ideas in the comment section, we would love to her from you!

Happy Boxing!

 

Become An Expert In Art Storage

Every house, office or studio you visit, one thing will always be there for sure – an art piece! It tells you a lot about the owner of the said painting. Sometimes it is more expensive than the house itself. Fast forward to movies where art or set design is the mainstay on which storytellers pay a lot of attention, when creating a masterpiece.
To jog your memory, Wes Anderson a renowned director known for his outlandish set designs, has his move filled with art décor. The latest among them – The Grand Budapest Hotel. So how do you take care of such priceless piece of artifacts? You don’t need to rob it or put it in a glass casing. It takes proper wrapping and transporting and a safe warehouse storage in Mumbai in place.

Here are some of the storing tips on hand:

Wrap it up

It is not rocket science to preserve a painting. A three layered wrapping method will suffice. First, you need to slowly wrap the painting in transparent plastic foil which is easily available in the market. Secondly, a layer of bubble wrap to protect the edges from being chipped off. Thirdly, a brown paper to seal the deal.
Additionally, when you are transporting the art, thermocol sheets are of great use. See how the packaging guys get your products. Just like that! You can also use confetti so there is a layer of buffer when you hit a bump on the road.

Warehouse Storage in Mumbai

(Image source: NEDCC)

Rack it up

When storing your paintings, always remember to make use of a rack in a warehouse storage. You can create one by cutting 2 x 4 wooden planks and placing it flat on to it. This way you avoid the water from dampening or any other insect from entering the artifact.

Warehouse Storage in Mumbai

(Image source: Google)

Temperature sensitive

A painting or a relic does not like fluctuating temperatures. The paints and the canvas all get damaged because of a sudden change in temperature. Keep paintings covered with an acid-free cloth. So whatever the temperature, no harm is done to it.

Professional packing services

The big players like UPS, FedEx and TPCIndia all have their own ways of handling fragile goods. Depending on the weight, size and storage material used, you can get assistance to transport your goods from point A to B.

Move to a Storage Unit

The final option for you is a warehouse storage in Mumbai, if you plan to keep your art in storage for an extended period of time.

Warehouse Storage in Mumbai

(Image source: Denver Art Museum)

At BoxMySpace, we provide climate and temperature controlled storage, clean, secure spaces and the peace of mind you deserve. Or else, you can call us on 8767252252. We are available in Mumbai, Pune and Bangalore.

Until then, Happy Boxing!