New GST law in India!
The new GST law was introduced and it was very confusing!
In 2017 Government of India initiated a new type of tax called GST (Goods and Services Tax). This created a huge uproar in India because everyone was confused over how it will help over a long run.
The retailers were hit the worse because of the new GST laws
Why small retailers suffered?
The government introduced a very complicated tax structure!
Basic items (e.g.milk and eggs)
Mass items (e.g.skimmed milk powder)
Processed items (e.g.cheese and spreads)
Consumer items (e.g. toaster, phones, etc.)
Luxury items (e.g. watches, perfumes, etc.)