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India's new tax reform "selling frenzy"

publisherLena Song

time2017/06/14


According to foreign media reports, India's largest tax reform since independence, retailers drastically cut prices, clearing inventory, so that India suffered a frenzy of the impact of frenzy. Some observers fear that the new regime will temporarily reduce the growth rate of one of the world's fastest growing economies. The Indian businessmen are concerned that the transition to the Commodity Service Tax Act, which will take effect on July 1, will lead to a high tax on existing stocks, so businessmen are starting to give huge discounts, selling televisions, motorcycles Car and other goods. In some commodities, customers can get more than 80% discount. The business community warned that the company could suffer heavy losses in the chaos. Experts warn that although the number of commodity sales may rise, but the price fell sharply, the overall value will be cut. India's tax reform will eventually lead to the next 10 years of debate, will be a failed attempt.