| Photo Credit: By Arrangementmore-inWith the excise duty exemption that helped them stay afloat not available under the Goods and Services Tax (GST) regime, small manufacturing units find themselves pitted against large companies. The competition from large entities thus was resulting in many of the small enterprises witnessing a decline in their revenues, leaders of trade and industry body FTAPCCI said on Saturday. With several of the small enterprises either family-run or a single man show, they are at a disadvantage in terms of economies of scale. Small enterprises have not only lost the benefit of excise duty exemption but the cost of compliance under GST is an additional expenditure for them, he said. To a query, he said FTAPCCI, on an average, had been receiving five queries on GST daily since May.

Source: The Hindu November 11, 2017 17:37 UTC