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Quarterly GST returns may be for Small Firms
PrintThe Centre is considering a proposal from the industry to allow small firms to file quarterly returns even as they pay taxes on a monthly basis under the Goods and Services Tax (GST) regime.
This follows the troubles these small firms are having regarding complying with the GST norms due to their limitations in getting professional help, lack of connectivity and technological glitches.
Sources said discussions were on regarding the threshold limit for small firms who could be granted such a relaxation.
This follows the troubles these small firms are having regarding complying with the GST norms due to their limitations in getting professional help, lack of connectivity and technological glitches.
Sources said discussions were on regarding the threshold limit for small firms who could be granted such a relaxation.
“Most of the exporters, particularly from MSME category, hardly have financial wherewithal to pay GST liabilities for three months without having refund in the meantime.”
“For ease of doing business especially for the MSME, provisional input tax credit period may be extended to 6 months from the current 2 months’ period; this will help cross matching of invoices through the GSTN portal and also save the blockage of the working capital for the small players. #casansaar (Source - The Hindu)
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