epraneeth77 wrote:

True, complicated GST rules have made it tough for businesses. But I hope that it will get simplified in coming days.

GST is not that complicated ...but here in India small traders who were earning big by skipping taxes and real estate dealers may find it difficult to handle because more than anything it hurts them and they may be looking for ways to reduce or evade it , having gotten used to not paying tax for decades..

usha manohar wrote:

epraneeth77 wrote:

True, complicated GST rules have made it tough for businesses. But I hope that it will get simplified in coming days.

GST is not that complicated ...but here in India small traders who were earning big by skipping taxes and real estate dealers may find it difficult to handle because more than anything it hurts them and they may be looking for ways to reduce or evade it , having gotten used to not paying tax for decades..

I have read in news that to file the annual Return of GST, ie GSTR 9 & 9C, it is becoming tough for businesses to understand and update themselves constantly. 

https://www.businesstoday.in/top-story/why-it-is-taking-forever-to-file-annual-gst-returns/story/375671.html

usha manohar wrote:

epraneeth77 wrote:

True, complicated GST rules have made it tough for businesses. But I hope that it will get simplified in coming days.

GST is not that complicated ...but here in India small traders who were earning big by skipping taxes and real estate dealers may find it difficult to handle because more than anything it hurts them and they may be looking for ways to reduce or evade it , having gotten used to not paying tax for decades..

True Usha, most retailers and traders who already were doing honest business, paying taxes etc. did not find GST any more complicated than filing tax returns. They just had to study and understand the GST a bit and that's it.

There is a general slow down which is because of a multiple reasons and there is no denying the fact ..how the Central government is going to tackle it and come out of it will show the capability of the leaders closely connected to the issue

This article shows the reality of our economy ..

https://www.google.com/amp/s/qz.com/india/1706815/indias-economic-slowdown-may-be-worse-than-it-appears/amp/

India is big country so implementation of any new rule may be have some problem in beginning. Perfectness at first stage is not possible, Indian also have many languages. It is also problem. Real state and gold are items in which peoples like to use black money. But after GST and linking of PAN card with bank account it is not easy to invest black money. It is also reason for slowdown. It will take time to change habit of peoples,

usha manohar wrote:

There is a general slow down which is because of a multiple reasons and there is no denying the fact ..how the Central government is going to tackle it and come out of it will show the capability of the leaders closely connected to the issue

This article shows the reality of our economy ..

https://www.google.com/amp/s/qz.com/india/1706815/indias-economic-slowdown-may-be-worse-than-it-appears/amp/

Good comment@Usha. The economy in due course will pick up but now the emphasis of the Modi government is to manufacture military hardware in India. Welcome, change of old Congress policy that put us back by 5 decades to China.

MG Singh wrote:

usha manohar wrote:

There is a general slow down which is because of a multiple reasons and there is no denying the fact ..how the Central government is going to tackle it and come out of it will show the capability of the leaders closely connected to the issue

This article shows the reality of our economy ..

https://www.google.com/amp/s/qz.com/india/1706815/indias-economic-slowdown-may-be-worse-than-it-appears/amp/

Good comment@Usha. The economy in due course will pick up but now the emphasis of the Modi government is to manufacture military hardware in India. Welcome, change of old Congress policy that put us back by 5 decades to China.

Yes , steps are being taken and the new opportunity of opening up industries I Kashmir is bound to spur the economy . The manner in which the UPA and opposition is going on and on about it shows their double standards because under the self proclaimed economic greats Manmohan Singh and Chidambaram we got to see the worst ever growth in 2012 when the GDP stood at 4.4%..

There are hundred and one reasons of GDP going down a bit in recent times. Don't you think that Uber and Ola have provided ride sharing which has reduced the needs of cars? Don't you think that the sales of cars have gone down globally or reached to the stage where sales and need of cars reduced? As far slow down in property, it's for the obvious reasons.

The use of black money is no more possible so the demand has reduced. People have finding it tough to invest by using black money so the transactions have gone down. I really found it funny when Chidambaram signaled 5 which was obviously meant that GDP stands at 5 now. He was not worried that he and family is facing charges of large scale corruption but he was trying to tell that Indian economy was better during his tenure. Manmohan Singh who never spoke even on his foreign visits is now overactive on economical issues in an accent which is best understood by himself.

I am sure the economy will come back on track once people understand that they have to live with the rules and do the business within stipulated law.

suni51 wrote:

There are hundred and one reasons of GDP going down a bit in recent times. Don't you think that Uber and Ola have provided ride sharing which has reduced the needs of cars? Don't you think that the sales of cars have gone down globally or reached to the stage where sales and need of cars reduced? As far slow down in property, it's for the obvious reasons.

The use of black money is no more possible so the demand has reduced. People have finding it tough to invest by using black money so the transactions have gone down. I really found it funny when Chidambaram signaled 5 which was obviously meant that GDP stands at 5 now. He was not worried that he and family is facing charges of large scale corruption but he was trying to tell that Indian economy was better during his tenure. Manmohan Singh who never spoke even on his foreign visits is now overactive on economical issues in an accent which is best understood by himself.

I am sure the economy will come back on track once people understand that they have to live with the rules and do the business within stipulated law.

While economic slowdown is a reality , it is not a worrisome situation. Somevif it is created by small businessmen. There is a very old and established bakery here run by 3 generation of a family. The other day the present owner was grumbling about how the govt has killed all business because of GST. I got talking to him and another shop keeper who happened to be there. Both of them have cut down staff and reduced production. The reason is not because the sales gave gone down but with increased production and profit they have to pay higher taxes. That really stumped me..

usha manohar wrote:

suni51 wrote:

There are hundred and one reasons of GDP going down a bit in recent times. Don't you think that Uber and Ola have provided ride sharing which has reduced the needs of cars? Don't you think that the sales of cars have gone down globally or reached to the stage where sales and need of cars reduced? As far slow down in property, it's for the obvious reasons.

The use of black money is no more possible so the demand has reduced. People have finding it tough to invest by using black money so the transactions have gone down. I really found it funny when Chidambaram signaled 5 which was obviously meant that GDP stands at 5 now. He was not worried that he and family is facing charges of large scale corruption but he was trying to tell that Indian economy was better during his tenure. Manmohan Singh who never spoke even on his foreign visits is now overactive on economical issues in an accent which is best understood by himself.

I am sure the economy will come back on track once people understand that they have to live with the rules and do the business within stipulated law.

While economic slowdown is a reality , it is not a worrisome situation. Somevif it is created by small businessmen. There is a very old and established bakery here run by 3 generation of a family. The other day the present owner was grumbling about how the govt has killed all business because of GST. I got talking to him and another shop keeper who happened to be there. Both of them have cut down staff and reduced production. The reason is not because the sales gave gone down but with increased production and profit they have to pay higher taxes. That really stumped me..

I think this slowdown will slowly go away. Recently in a discussion at the Singapore club, this was the general consensus. I also feel economic recession will take care of itself.