GST seems to deccelator for industrial growth due to confusion, strict legislation & queries. We are facing huge GST / tax payment for IGST. Initially for Electronic relay it was 2% . Now 28%. Incoming is 18%. In addition to it customers pay after 120 days. We SSI are facing huge liquidity crunch after we pay IGST / GSTs honestly. Customers used for 120 days payments dont budge down. Eg if or sale is 1L then 28000 is our IGST. Comming after 120 days. (If payment is sharp 120 days). We have to pay GST every month. So till we get first GST we have spen 28000X4=112000. If our material is 60%. profit 15%. We end up in cash crunch. Naturally our business stops or we have to get money on interest. Govt must take this factor in consideration.

GST seems to deccelator for industrial growth due to confusion, strict legislation & queries. We are facing huge GST / tax payment for IGST. Initially for Electronic relay it was 2% . Now 28%. Incoming is 18%. In addition to it customers pay after 120 days. We SSI are facing huge liquidity crunch after we pay IGST / GSTs honestly. Customers used for 120 days payments dont budge down.
Eg if or sale is 1L then 28000 is our IGST. Comming after 120 days. (If payment is sharp 120 days). We have to pay GST every month. So till we get first GST we have spen 28000X4=112000. If our material is 60%. profit 15%. We end up in cash crunch. Naturally our business stops or we have to get money on interest.
Govt must take this factor in consideration. more

Helpful All GST Queries Answered Sep 22

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Dhinakaran C (member, RWA Assn in Annananagar)

Your Problem will never be understood by an unelected Finance Minister who has no knowledge on the working of a MSME or does not want to listen to any of the problems arising out of the implementation of the GST and its complicated Return filing Mechanisms and also who cannot accept the fact of the ill equipped Govt infrastructure to face the challenge of this huge task. more

Sep 26

Sunjai Goenka

IMPLEMENTATION OF GST HAS MADE THE EASE OF DOING BUSINESS WORSE THAN BEFORE. more

Sep 26

Sunjai Goenka

GST implementation with all fanfare has become a big nightmare for many , many businesses specially who are not in the top league..this Govt. wants to do everything together creating serious disruptions for established businesses..Small businesses are in deep trouble as many don't know how to give time for completing the returns on time every month.. more

Sep 26

Vinod Negi

Facing problems from CA/advocates for unnecessary charges of fee in filing returns, and lots of problems in gst portal, no modifications in portal, portal is also not working properly more

Sep 23

Ravindra Raghuwanshi

Buyers are enjoying credit and supplier is getting killed under this ITC rule. Need to have system that buyer should not get the credit unless all payment of the supplier is cleared. more

Sep 23

Kaustubh Sinnarkar (Software Developer)

This is serious problem where credit period is more than 30 days. more

Sep 23

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