Effect of Demonetization on our Fishy Hobby

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Effect of Demonetization on our Fishy Hobby

Postby abhirup » Sun Dec 11, 2016 11:51 am

A different kind of topic. but very relevant. Thought of discussing with you guys. What do you all think is/will be the effect of demonetization on our hobby? is there/will be any change/effect on this hobby? Do you guys see any difference post this demonetization? will like to hear from you all. Also would appreciate if the commercial guys share their views on this topic. Keep the posts coming in..
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Re: Effect of Demonetization on our Fishy Hobby

Postby vikramdutta » Mon Dec 12, 2016 5:47 am

No effect will be there in the hobby. If cashless transaction is made mandatory (Maximum Cash Transaction limit to be set by the Government) then there may be some impact. May be, gadgets prices may go down, other than this I can see no effect bcoz this is a very small market overall.
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Re: Effect of Demonetization on our Fishy Hobby

Postby sabir » Mon Dec 12, 2016 1:19 pm

Only positive outcome I find despite many tall claims that even the small traders are now trying to keep their books clean earlier many of them tried to avoid tax, vat etc. As some of you might know, I also co-own a small shop ( though as a dormant partner); we are making arrangement for cashless transaction. There will be more sincere effort to ensure to comply with legal and tax obligations. Price of some products will increase as it will be ensured that VAT is properly collected and deposited.
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Re: Effect of Demonetization on our Fishy Hobby

Postby kumar » Wed Dec 14, 2016 5:29 am

I am pretty sure gallif street is going to take a hit... and getting hit already. Majority of the buyers would prolly be kids and teens who may not have access to these wireless payments/bank gateways yet. For sure there will be a challenge for the small vendors who dont want to get under tax radar or pay the service charges.

also there is a big big market to challenge paytm.
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