Ludhiana, the industrial town of Punjab, is witnessing a slowdown in production after implementation of the GST. While several industrial units are still seeking clarifications on the new tax regime, many others are demanding deemed input tax credit on old stock. So business is being done in a restricted manner,” said Avtar Singh, President of Chamber of Industrial and commercial undertakings (CICU). So industrialists are still busy in getting paper work done and hence are sending limited containers,” said a custom agent Ludhiana dry port. In Ludhiana alone, out of nearly 700 printing units, about 500 work on box making and their work has come to a stand still, he added.

Source: Indian Express July 13, 2017 03:11 UTC