2017 has been a significant year for industry, in general, and for the chemical industry, in particular. As the economy recovered from the punch of demonetisation in November of 2016, that disrupted businesses, especially consumer facing ones, it had to grapple with the complexities of the Goods and Services Tax (GST)-multiple levies, strained IT infrastructure and lack of training both amongst industry and advisers in concerned government departments. Exporters, in particular, have been concerned about the refund of taxes paid for manufacture of goods and services sent overseas, which they claim has eroded their competitiveness and this is a matter that the government is now engaged in addressing.
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