Nine months after the goods and services tax (GST) was launched in the country, most businesses are still struggling to understand the new indirect tax regime, a survey conducted by the online wholesale marketplace Wydr has revealed. According to the survey, 57% of the respondents representing manufacturers, wholesalers and retailers said they are yet to fully understand the working of GST, while nearly 19% (one in five) said they still do not understand GST at all. A total of 130 businesses across India were surveyed on how the GST regime has impacted their business. More than 55% respondents are unsure or believe that GST is not good for their businesses in the long run. As per the survey, almost 45% believe that GST is good for business in the long run.

Source: dna April 11, 2018 00:00 UTC