GDP data was released recently and big noises were made because of it.
Summary is that GDP growth was recorded at 5.7% which is lowest since many years.
If we analyse the reason, one main reason could be that businesses did not produce much and sold much in June and July 2017 due to GST implementation.
Did your business was billing, manufacturing as usual or you also contributed in downfall of GDP?
To be honest I did not raise any invoice during the month of July 2017. As I was not registered under any earlier tax laws and took GST registration since registered person will not avail services from me.
I did not raise invoice because 18% is too much to impact our working capital requirements.
It was expected, people should be happy atleast we had growth though it is lowest since many years. But GST which is a good thing for long run has impacted it.
The first quarter of 2018-19 will have highest GDP growth as per my estimation.
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