July 6, 2020

‘GST adversely affects Indian businesses’: Experts


Offering disappointment to those who are expecting some huge benefits from the massive efforts initiated to change the tax system of the country, some business experts have claimed that the Goods and Services Tax system adversely affects the Indian business sector as the investors show reluctance to invest in our business sectors due to its new character of frequently changing rates and procedures.

In the recent past, by implementing the GST, the concerned authorities changed the price of nearly hundred products. As part of this, the central government issued numerous notifications and regulations.

It is learned that the changes made as part of the GST have created inconvenience to the investors who are looking for a stable business environment to invest in.

Some believe that the GST has failed to create an integrated tax system that it aims to active.

Experts say that had the GST created an integrated tax system it would have gifted those who conceptualised and advocated the GST what they aim to achieve from the GST.

The automobile sector is one of the business sectors which have faced the heat of the newly implemented tax regime.

At this moment, it is not clear that how the authorities overcome this issue.


Photo Courtesy: Google/ images are subject to copyright

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