Are Small Businesses Faring Well in the GST Regime?
To assess the fallout of GST, The Quint reached out to traders in Delhi’s Lajpat Nagar market.
It's been three weeks since GST, touted as India's biggest economic reform since independence, was implemented. The last date for GST registration 31 July. But millions of small businessmen are still confused as to what should be done. Even as businesses with a turnover of less than 20 lakh are exempted from GST registration, those running small-businesses are uncertain about their future.
As of now, businessmen are busy clearing pre-GST stock, although this will be exhausted within a few days. Working out of rented shops, these businessmen do not have all the required papers for GST registration. Moreover, these small shops don't maintain all bills and accounts. If things remain as they are, will all these traders be left out of the GST supply chain?
To assess the fallout of GST, The Quint reached out to traders in Delhi's Lajpat Nagar market.
Video Editor: Mohd Irshad Alam
Camera: Athar Rather
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)