India Gdp Down To 5.7% In Q1 Of 2017-18

watch_later 3 years, 5 months ago

GDP data was released recently and big noises were made because of it.

Summary is that GDP growth was recorded at 5.7% which is lowest since many years.

If we analyse the reason, one main reason could be that businesses did not produce much and sold much in June and July 2017 due to GST implementation.

Did your business was billing, manufacturing as usual or you also contributed in downfall of GDP?

  • chatComments
    The exporters drained out due to the implementation of GST , basis which they do not have further order booking to boost export to invite foreign currency. Govenment should activate the GST refund /sett off at the earliest to have smooth flow of export and import - SREEKUMAR PRABHAKARAN
    Agree with Sreekumar Prakhakaran - Dasrath Business Solutions - Dasrath Business Solutions Pvt Ltd
2 Answers

GST Payer watch_later 3 years, 5 months ago

It was expected, people should be happy atleast we had growth though it is lowest since many years. But GST which is a good thing for long run has impacted it.

The first quarter of 2018-19 will have highest GDP growth as per my estimation.

  • chatComments
    Dear sir, do you think all are registered themselves with GST. If so, all are billing with GST correctly, we have to go with a survey. A tea shop person has increased his price from rs. 1o to 12 stating the efffect is due to GST. One pooja materiel seller is finding difficult for making the bill because, every material has different rate of GST. Will he try to bill honestly? Method is good but complaince is so poor. - SEKAR BALAKRISHNAN

anonymous user watch_later 3 years, 5 months ago

To be honest I did not raise any invoice during the month of July 2017. As I was not registered under any earlier tax laws and took GST registration since registered person will not avail services from me.

I did not raise invoice because 18% is too much to impact our working capital requirements.

  • chatComments
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