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.

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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 –

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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

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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

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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

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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

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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

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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!

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Creating your own mini library at home

It all begins with one small fairy tale, given to you by your parents. One gets engrossed in that fictitious world with supernatural and mystical powers, colourful characters and the surroundings. Fast forward to the present and suddenly you’re lost somewhere in that pile of novels, story books. The houses in the cities have small spaces, but your thirst for new books and more knowledge is increasing by the day. Book storage in Mumbai is an issue, with your parents now concerned where to store your books.

Give or take, each home is close to about 1000 sq. ft & to match it you’ve 1000 books. Hmm, you see the issue arising?

Book Storage in Mumbai

(Image source: TipJunkie)

What do you do in such a situation? Do you give away your cherished books? Leaving a void within you! Well, we have solutions that can help.

  • These days the sofas are multi-purposed. They will have slots at the arm chair to keep your newspapers, coffee table books, a Cuppa Joe etc. Why not place some of the great novels along the side of the sofa, or just behind it. Just pick up a book and continue where you left off. A little cozy English library feel to it, isn’t it?
  • You’ve heard that walls have ears, an age old saying. Well that is because in the olden days, book were stored  in huge shelves adjoining the walls. Walls gained knowledge, insights, and ideas. They were planning WWIII. No, no just joking, but you the gist of it. If you’re lucky enough to have a spare wall at home, the living room is a great to build a library.

Book Storage in Mumbai

(Image source: Designrulz)

  • When renovating your home, think also how to create a library with lightings. Yes, add a spot light in your living room, bedroom or a kitchen. These spots can be used for storing your novels. A novel idea, really!
  • Another great idea for book storage in Mumbai for your cherished stories are – beside your bed. Bed time stories or a chapter in a thriller drama is a good way to unwind and relax your mind before sleeping. So if you’re the type who cannot do without reading in bed all snuggled up, this arrangement makes perfect sense. It just comforts the laziness and tiredness within you. As stated earlier, just mount a head lamp or a strong spot light for reading and you can get lost in a story within a matter of time.

It is only the surface that is scratched with regards to book storage, it is best to visualize, chalk out and see spaces that can be utilized.

Finally, would like to end it with a simple thought. A home library is simple to develop, it is not rocket science and doesn’t burn a hole in your pocket. In fact, you have all the time in the world to organise and store your ever growing collection.

Book Storage in Mumbai

(Image source: Designrulz)

Till then, if you still fall short of space and yet do not know where to store your books, call BoxMySpace on 8767252252, we would be happy to help out.

Until then, Happy Boxing and have a good read!

 

Bringing You Top Drawer Organisation

As an art director, or for that matter working in the creative line, you definitely see the world differently. Everything around you in perfectly placed in design and balances out. This same principle is used when it comes to organizing your office/work space and more importantly you drawer.

Visit any creative boutique and you will see how creative people have their things in order. It may look beautiful and it can also look ugly to a neutral but has some sense. One will find everything needed on their desk and soft boards. But when have you organized those knick knacks in your office drawer. Many a times, people discount the space use in a drawer. It could be a murder scene when one dumps everything in it.

Here are some helpful hints for keeping what you store behind closed drawers easily accessible and organized.

Office Storage in Pune

(Image source: HomedIt)

Clean up the drawers

Survey your drawer size in depth and length. For that you need to remove everything from in it and give it a nice wash over with a dry cloth. There is nothing better than to start from scratch. While the drawer gets to air out, make a check-list of the things you need in your drawer and dump out the rest.

Line up the drawers

As we said before you must know what needs to go into the drawer. Chart out a plan in your head and work towards it. See how you can use the space in the right manner and how easy it is to access the things at any given time. Office drawers require different types of liners depending on the need of the individual.

Office Storage in Pune

(Image source: Pinterest)

Follow a system

The next step you follow is to understand a system of organization and placement. Think of it as visual merchandising. What would you use frequently; things need to catch your eye easily and quickly. Choose a system that talk about functionality. Office D=drawer organization can be used from everyday materials such as woven fibers, fabric or wood. Why choose these materials, because they are less likely to get damaged or worn out.

Start to compartmentalise

Finally, you get to the meat of this exercise. C-O-M-P-A-R-T-M-E-N-A-L-I-S-A-T-I-O-N. Once you check with your blueprint, start implementing it one section at a time. As we mentioned before, you gain quick accessibility to your supplies, when you need it. Believe us when we say, you save a chunk of time when things are organised in the office. Everything is in its place and can be found any time and replaced immediately after you make use of it.

We would also love to see what office storage innovations you can come up with. It is important to take the first step towards this small change. The idea is to get things into shape. Break down your tasks into smaller milestones and move forward. You never know when you can hit the sweet spot.

Office Storage in Pune

(Image source: Pixabay)

If in case you’re looking to store your kitchen ware temporarily, BoxMySpace is here to help out. Call us on 8767252252.

Until then Happy Boxing and Happy Organising!

The Need For Warehousing In Bangalore

Bengaluru, originally known as Bangalore, is the capital of Karnataka and is the third largest city in India and the fifth largest metropolitan city, popularly renamed as Silicon Valley of India. It is the technical and the major Information Technology nucleus of the country. It is the largest and the fastest growing market. Reading these wonderful stats, there will a boom in their population and subsequently leads to space cramp.

With that being said when it comes to warehousing in Bangalore BoxMySpace and the team is fully committed to make your living and business run as smooth as possible, by increasing your efficiency three folds. We at BoxMySpace help connect you to your customers at a very high level by proving you with the resources that you need and when you need it. We have a proven network for effective supply chain management, specialized packing and distribution services and project management.

Warehouse in bangalore

(Image source: Google)

We are currently present in three large cities including Bangalore. Warehousing in Bangalore is a big need at the moment and therefore we have large spaces including a 5000 sq. ft of space in Bengaluru, about 10,000 sq. ft. in Mumbai and about 3000 sq. ft. in Pune. We can deliver total logistics warehouse management services for any project, any size, wherever your business takes you. We love a big challenge.

At times, one might have antique pieces that need to be stored to preserve their richness. We are experts in that area. It is the commitment that we bring to the table, which is why clients have gained trust with their tight time frames and unique business goals.

So be it:

Electronics shipping: That may include lab equipment, X-ray or Simulator equipment.

Fine Art: All of your Monet, Rembrandt, M.F. Hussain’s paintings, vases or other such expensive collectibles. We bubble wrap, pack and seal them so they remain fresh and new.

Bigger items: Large furnishings, raw materials, sun mica, plywood and other carpentry materials are placed and distributed with our logistics system.

Warehousing in Bangalore and Distribution Services

When you need optimised solutions for transportation, storage, and just-in-time delivery, we are the answer. We provide you a flexible storage service that works for you.

As we stated before, we provide you with a gamut of solutions with regard to warehousing in Bangalore. With the already existing resources, we bring added depth for logistics warehouse management, third-party network of warehouses, transportation providers, and installation professionals. We bring a turnkey service for furniture, fixtures and equipment-even in the most complex logistics scenarios.

Warehouse in Bangalore

(Image source: Google)

Choose BoxMySpace

Find out how BoxMySpace can help you with your warehousing needs in Bangalore and put us to the test, because it is always exciting to cater to your every whim and fancy in the storage and transportation logistics management. Contact us we are waiting.

Until then happy boxing!

Warehouse Fulfillment Solutions In Mumbai, Pune & Bangalore.

Before you start the long journey into the e-commerce business, you need to have a fully functional warehouse fulfillment centre in place (backend). It is one thing to have good, strong sales but when the demand increases you should have an equal force to deliver. Therefore, you must get warehouses that has unparalleled customer service and modern technology to get to your customers on time and that improves your reputation and increases reorders.

Especially in a place like Mumbai, Pune & Bangalore, you need a professionally run warehouse fulfillment solution backed with a strong staff that is dynamic and efficient. We live in a time where the customer is GOD and wished for their goods yesterday.

Warehouse Fulfillment Solution in Mumbai

(Image source: Pixabay)

Make The Right Choice.

Today everyone and everything is run through a smartphone. People spend more time on their phones that have a decent human conversation. Sales through mobile phones have tripled over the past 5 years. You get anything and everything at a click of a button or through an app. Therefore, investing in a proper strategy is vital for your business to grow and become a success.

Move from manual to automatic immediately. This will streamline your processes and save you a chunk of valuable time. You could set up an email trail, inventory and volume sales sheets, how many goods have got damaged or lost in transit, your overall costs and much more. All of this will help you better your service in the future.

Similarly, when choosing warehouse fulfillment solution, take your time and make sure it meets all your criteria. Carefully go through your list of pros and cons and then settle for the best option.

Warehouse Fulfillment Solutions in Pune

(Image source: Pixabay)

 

 

Make A Difference.

When completing E-commerce orders, attention to detail is paramount. The usual process of any fulfillment service is to pick, pack, and ship. But nowadays, warehouses are beginning to be multifaceted i.e they provide additional solutions too. They include from same day order, to completion of catalog and E-commerce orders. They also include solutions such as bubble-wrapping fragile items and grouping separate product items into one, specialized package; product labeling; pallet co-packing and shrink wrapping. Therefore stressing on the point of warehouse fulfillment solution one can manage their business, which will lead to bigger market share, a one-up on your competition, global presence and strengthen the business brand, all while contributing to your bottom line.

Warehouse Fulfillment Services in Bangalore

(Image source: Pixabay)

Finally, to end this piece of warehousing and its pros and cons; one piece of advice is to do your own due diligence. Cannot stress how important it is, especially for the newbies that are getting into the online business. A company can never be too careful to check out the claims of the logistics company and speak with customer and trade references in order to make sure that it is a legitimate operation.

One In, One Out – Seasonal Clothing Storage

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Whether you are ready or not, the seasons come and go every four months. We all are happy that the winter Gods has blessed us with cool weather. So soon we’ll be trading our swim suits, sundresses and flip flops for warm and cozy sweaters. But remember packing away our delicate summer clothing is more complicated than just tossing them and shoving them under the bed.

We have got for you a simple 5 step process to storing all your clothes with great ease.

  1. Sort it out.

You are well into winters and your warmer clothes have begun to surface. With that, storage space becomes an issue. Many a times due to low cupboard space, you cram up the clothes which leaves it all crumpled up. To add to it, you’re not ready to part ways with certain ‘favourite’ clothing.

You might be still deciding what needs to go and…

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Renewed Vows Of The Empty Nest

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You knew this day was coming, and now it is a bittersweet moment. It 8 AM and your house is finally empty after 35 years. The kids have moved abroad to study and almost settled comfortably. You’ve the whole house to yourself and your significant other. Instead, flip your house and include a walk-in closet, extra bathroom, or dedicated crafting space.

  1. More closet space

Since your kids have moved out, here’s your opportunity to turn it into an extra room for all your dresses, expensive shoes, and maybe a vanity table for your everyday make-up essentials. Sort of like a walk-in wardrobe.

Closet - Countrylivingdotcom(Image Source: Countryliving.com)

  1. Go simple.

When you’re remodeling your house, many people feel it will cost a lot of money. In fact, it is the opposite and you end up saving money. Make a list of what you want in the new and remodeled room. Remember, less truly…

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