With days left for Diwali celebration, markets in Jammu, which were always full with customers, are reeling under impact of GST and demonetization as customers stay away and traders rue the decisions taken in haste.
“The main markets in Jammu are not as busy this year as previous years,” said Mohan Sharma, a resident of Gandhinagar.
About sweets, which come under restaurant category of GST, the sellers or buyers are not happy with the slab rates, which are set at 5 per cent, 12 per cent, 18 per cent and 28 per cent respectively.
“As a result, vendors who are already in a financial crunch face severe losses as consumers are unwilling to shell out more money due to rising inflation post-GST,” argues sweet seller.
Though business community have made special arrangements and also announced offers on purchase of different items to attract customers during Diwali but the response of costumers remains cold.
“Dussehra followed by Diwali used to be the season to make money but this time market has gone down as compared to last year. I had sold product worth Rs 1.5 crore till Dhanteras last year but this time my sales are just Rs 30-40 lakh, that includes Navratras and marriage season,” a electrical home appliances dealer told Kashmir Post.
“This is not because of people don’t want new thing for their homes but due to GST majority of product become costlier and people who require something now prefers credit,” he added.
Traders have various versions over low turnout in business. Many blame online shopping which attracts large number of costumers, especially youth.
“I have been in the business of readymade clothes for the past three decades. Those who never borrowed money are now looking for credit,” said a cloth merchant.
“Traders are not expecting anything from festival season,” said Rakesh Gupta, President Chamber of Commerce and Industry- Jammu.
“There are no hopes that the Jammu businessman will get some relief in this entire Diwali season because there are very few shoppers in the market as compared to last year,” he said.
“This all is ill effects of demonetization decision which was taken in haste backed by ‘unplanned’ GST within a short span of time,” he said.
“Demonetization and GST have derailed Jammu’s business. Toll Tax at Lakhanpur adds miseries for business class. The small and medium class trader of Jammu has left with no option to survive,” he maintains.
Festive mood missing across Jammu markets post Demonetization, GST
