GST Council ready to give relief to SMEs and exporters today
GST Council ready to give relief to SMEs and exporters today
Share:

NEW DELHI: The Centre will use Friday's GST Council to give relief measures and unruffled jumpy businesses complaints about the new tax system. The panel of state and Union finance ministers is anticipated to relieve exporters' pain by allowing electronic payment of taxes through "virtual currency", while announcing a series of steps for small and medium enterprises as it tries to find to smoothen the implementation of GST.

Shah, who is supposed to endow with critical political feedback, called off his return to Kerala on Thursday for the planned padyatra. Jaitley passed over a scheduled speech at the India Economic Summit on Thursday evening.

The big focus on SMEs and exporters, which have been striked hard by GST, will see the Centre and the states permit for filing of quarterly returns by businesses with turnover of up to Rs 1.5 crore.

This is in addition to a proposal to raised the entrance for the composition scheme to Rs 1 crore from Rs 75 lakh, which will permit small businesses, including eateries, to pay 1-5% tax (depend on the businesses they are in) without having to deal with the three-stage filing process.

read also

Uber has added a new feature for the convenience of Passengers

Air Force make up mind for two-front war: :IAF chief

Sex helps in build confidence.

 

Join NewsTrack Whatsapp group
Related News