associate sponsors

Llyod
HDFC

GST glitches, cash shortage hit shopping, traders see sharp 40% fall in pre-Diwali sales across country

New Delhi: As much as 40 percent drop has been recorded in sales in markets across the country due to low footfall of consumers because of cash shortages, traders body CAIT said on Monday.

Representational image.

Representational image.

With just 3 days for Diwali, "markets across the country are gloomy, having a deserted look with very less festivity and less foot fall of the consumers", resulting in 40 percent drop in sales in comparison to last year, Confederation of All India Traders (CAIT) said in a statement.

It said less footfall is there in markets because of cash shortage.

It also said that the slowdown is further multiplied by glitches in the Goods and Services Tax (GST), which kicked in from 1 July.

"Confusion still prevails to a great extent which is more bothering to traders. Tax compliance of almost all taxes falls in this month only," it added.


Updated Date: Oct 16, 2017 19:48 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See



{if $hideJSforEU != 'yes'} {/if}