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Thread: CONSOLIDATED: 500 and 1000 rupee notes no longer legal tender!
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Old Jan 5, 2017 | 1:45 am
  #185  
GUWonder
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Originally Posted by oliver2002
Desi, the deadline to deposit old 500/1000 notes in regular banks has been extended till end Q1/17. Read the circular above. NRIs have a later deadline of end Q2/17 if they get the form above stamped at entry by customs.

​​​​​​​You guys may have other sources of info, but the demonetisation has caused considerable trouble in the sectors that only deal in cash to avoid reporting sales to GST.
The sectors that "only" deal in cash were probably "only" dealing in cash before GST too. Much of the reliance on cash in India has actually had less to do with GST avoidance than other factors. And we all know India is a land of many set traditions.
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