The condition of one-third of the corporate companies of the country has deteriorated. According to a report, the ability to repay the debt of more than 32 percent of the companies has decreased. By the end of March, 22 per cent of the companies were facing problems in repaying their loans. But now this number has increased to more than 32 percent.
GST compliance score of many companies reduced
According to a report by Rubix Data Sciences, of the 9,963 companies that are being monitored, 32 percent i.e. 3,177 are those whose GST compliance scores have decreased in the June quarter. In the March quarter, 22 percent companies were such that their GST compliance score had decreased. However, there were 3,149 companies that had an increase in their GST compliance score. At the same time, there are 3,673 companies i.e. 36 percent such that there is no difference in their scores.
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PF filing compliance score also declined
A decrease in the GST compliance score means that the financial health of the company is not good. According to the report, companies were at high risk levels in the first quarter. This report has been prepared on the basis of GST filings and provident fund filings and credit ratings. Of the 3,667 companies, 40 per cent were such that had a low PF compliance score. Such a situation has also arisen due to two waves of COVID-19. However, the credit rating has not declined much.