Google News

Retailers are yet to implement GST

Must Read

A large section of retail shops are yet to implement Goods and Services Tax and are selling their wares with bills showing fictitious dates of the month of June.
“We are still in a lot of confusion. The simple way out is buying and selling with June bills,” a sanitary shop owner in College Street in the city told PTI.
“There are several tax slabs of GST and to get the old stock re-priced will take time. Till then should we keep our shop closed ?” he was further quoted by PTI as saying.
According to a PTI report: Another shop owner said such billing will help to liquidate old stocks.
A decorative paints shop owner said he would continue selling with backdated bills till the matter is “settled”.
However, Government has said retailers with unsold pre-GST stock of products can stick the new prices on them taking into account the post-GST changes for selling.
Truck movement has also reduced in the wake of GST, a truckers body official said.
Chamber of Textile Trade and Industry said textile traders have been given extension for GST registration till July and so there was no compulsion for them.
Indo-Bangladesh trade was also affected due to some technical glitches in GST software, customs agents association officials claimed.

Latest News

Brigade Enterprises to invest Rs 8,000 cr in Chennai by 2030 to build malls, offices, homes among other things

In Chennai, Brigade Group has already completed over 5 million square feet across residential, office, hospitality and retail real...