GST helps in increasing business or decreasing business?

  1. Akanksha saini profile image60
    Akanksha sainiposted 16 months ago

    GST helps in increasing business or decreasing business?

    discuss the positive and negative impact of GST o business

  2. tamarawilhite profile image91
    tamarawilhiteposted 16 months ago

    If you're talking about India's new GST now applied at one set of rates for the entire country and required even for very small businesses ... the implementation is poorly designed just as demonetization was.
    A third of small business owners are cash based because they are poor, lacking computers and often lacking electricity, often unable to read, too. But they are legally required to submit more than a dozen tax forms each month through the internet. Does the Indian government want the poorest among them to go out of business?
    Another problem is sheer confusion. Many small businesses don't know how to classify their products and what rate to pay, and they cannot get assistance from the state nor afford to over-pay taxes. Paying professionals to explain it is also out of their reach.
    This is why the GST is hurting businesses, as many shut down to figure things out and don't dare risk sales when they cannot comply. Others are shutting down because they cannot afford to comply.

    1. Akanksha saini profile image60
      Akanksha sainiposted 16 months agoin reply to this

      yeah...!! exactly I agree
      GST makes downfall in small as well as cottage business. some business are likely to shut down due to GST

 
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