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Technology

Demonetisation + GST = 50,000 SMEs shutting shop in TN

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Over the past two years, 50,000 small and medium industries have shut store in Tamil Nadu and round 5 lakh individuals have misplaced jobs because of the money crunch after demonetisation.
GST Hurts SMEs, Even Although They Don’t Fall Below GST
Whereas enterprises with a turnover lower than Rs. 20 lakh needn’t join GST, many entrepreneurs say large corporations have interaction solely with those that register for the central tax.
The system, they are saying, additionally pushes them in the direction of the wall on account of necessary month-to-month GST fee or penalty although their prospects pay them solely two to 3 months later.

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