Recently in few years, we are seeing a shift towards creating a retail or a service sector. This is making the manufacturing sector especially small and medium dieing out.
In present time, manufacturing as a business have become very difficult. There are so many different formalities to be filled up. There are also multiplicity of Agencies that have to be dealt with which discourages entrepreneurs to consider manufacturing as their Business. Also exiting from a Manufacturing business is also difficult.
This is making even small items like stationary, toys, etc. to be imported as well.
Central Govt. should try to implement General Salas Tax as early as possible to encourage manufacturing. This will at least ease the tax related difficulties faced by our entrepreneurs.
Also the rules of the GST to be simplified that makes the decision making with regards to rates of taxes/ classification of items easy.
In present time, manufacturing as a business have become very difficult. There are so many different formalities to be filled up. There are also multiplicity of Agencies that have to be dealt with which discourages entrepreneurs to consider manufacturing as their Business. Also exiting from a Manufacturing business is also difficult.
This is making even small items like stationary, toys, etc. to be imported as well.
Central Govt. should try to implement General Salas Tax as early as possible to encourage manufacturing. This will at least ease the tax related difficulties faced by our entrepreneurs.
Also the rules of the GST to be simplified that makes the decision making with regards to rates of taxes/ classification of items easy.
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