Summary:
However, if it is packed in bags by a certain company then it is taxable under GST,� a shopkeeper states while trying to understand GST.
Under GST, traders will have to file their monthly returns online, but a majority of the businessmen do not have computers or know the process of online billing.
Everyone is trying to understand what to do with the stock they bought before the GST came into effect,� Mr.
Goyal said.
�There are instances where customers want to buy a product that was provisioned by the trader before GST was in place.
�Delhi is the hub of wholesale markets, which have dried up due to lack of demand and supply.
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more-in Traders across Delhi complained of little business coming their way on Monday, the first working day since the Goods and Services Tax (GST) system was rolled out on July 1, even as they spent the entire day trying to understand the �complex� new tax regime.
�Wheat in loose form is being sold without tax.
However, if it is packed in bags by a certain company then it is taxable under GST,� a shopkeeper states while trying to understand GST.
Old stock The entire chain of national commerce, which has Delhi�s wholesale markets at its centre, has gone kaput with purchasers and customers deciding to halt business for sometime, said Brijesh Goyal, the national convener of the Chamber of Trade and Industry (CTI).
�Delhi is the hub of wholesale markets, which have dried up due to lack of demand and supply.
Everyone is trying to understand what to do with the stock they bought before the GST came into effect,� Mr.
Goyal said.
Shop owners said they spent their entire Monday taking inventory of old stock and figuring out the changes made to billing procedures.