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GST leaves lock industry in trouble


GST leaves lock industry in trouble

Aligarh (Uttar Pradesh), July 31 (ANI): Lock traders and workers in Aligarh are incurring losses as the industry has been declining after the implementation of Goods and Services Tax (GST), the country's greatest tax reform. Under the newly launched GST bill, a tax rate of 18% has been levied on padlocks and locks.

The traders and workers who rely on locks and key industry for their survival are facing a lot of difficulties due to a high tax rate imposed on locks. The workers have been left with no work due to the fall in demand.

However, the buyers were not ready to purchase locks at a rate of 18%, which is leading to a decline of the industry.

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