‘Business Hit Due to Confusion’: Is Old Delhi Prepared For GST?
The views of Old Delhi traders was sought on issues including new tax-slabs, the provision of input tax credit, etc.
With Goods and Services Tax (GST) all set to be implemented from 1 July, The Quint headed to Old Delhi’s markets, to know how well prepared for GST are the area’s large-scale traders.
The government expects GST to usher in a unified tax regime – invoking the phrase ‘One Nation One Tax’. The aim is to do away with a number of central and state-level taxes that are currently levied.
The Quint was accompanied by tax expert Sharad Kohli to gauge the mood of the businesspersons working in the heart of Delhi, most of whom work in the wholesale sector.
We sought their views on several issues, including the new tax-slabs, dependence on chartered accountants and lawyers, the provision of input tax credit, and awareness about the anti-profiteering clause.
At the onset, it seems confusion over GST has badly affected business in Old Delhi.
Ultimately the question lingers on: Will the GST regime lead to ‘one nation one tax’ or one nation numerous taxes?
(Video Producers: Saraswat Mandarapu; Kabir Upmanyu)
(Video Editor: Purnendu Pritam)
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