Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Firms with annual income upto Rs 2 crore could get GST return relief.


Date: 13-09-2019
Subject: Firms with annual income upto Rs 2 crore could get GST return relief
NEW DELHI: The all-powerful GST Council is set to discuss a proposal to exempt small businesses with annual turnover of less than Rs 2 crore from filing annual returns.

Senior officials said that despite three extensions for filing the returns, the number has been unsatisfactory. "It is ranging from 25-27 per cent despite extension of deadlines. The GST Council will discuss the issue in its meeting on September 20," said an official.

Tax experts said that the proposed move to dispense small taxpayers from filing annual returns would ease compliance burden and also help tax authorities focus on big assessees. "There is perhaps a need for rethinking. There is a view that why put more compliance burden on small taxpayers. The system is also not very robust," said Amit Bhagat, Partner, indirect tax practice, Dhruva Advisors. At present, every GST assessee has to file an annual return in GSTR 9 forms.

MS Mani, Partner with Deloitte India said that during implementation of GST, most small traders and businesses had found it difficult to shift to GST and any relief to them would be a big help for the micro, small and medium enterprises (MSME) sector. "If there is a compliance relief given to them for a year or two it will make GST much more acceptable for the MSME sector," Mani noted.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 12-01-2021
Notification No. 02/2021 - Central Tax
Seeks to make amendment (2021) to CGST Rules, 2017.

Date: 11-01-2021
Trade Notice No. 37/2020-2021
Electronic Issuance of Preferential Certificate of Origin (CoO) for India’s Exports to UK under Generalised Scheme of Preferences (GSP)

Date: 08-01-2021
Public Notice No. 37/2015-2020-DGFT
Enlistment under Appendix 2E of M/s The All India Plastics Manufacturers’ Association (North Zone), Gurugram, Haryana - Authorized to issue Certificate of Origin (Non-Preferential) – reg.

Date: 07-01-2021
Notification No. 55/2015-2020-DGFT
Amendment in import policy and condition of items classified under Chapter 41 & 43 of ITC (HS), 2017, Schedule – I (Import Policy).

Date: 07-01-2021
Notification No.03/2021 - Customs (N.T.)
Exchange rate Notification No.03/2021-Cus (NT) dated 7.1.2021

Date: 06-01-2021
Notification No. 03/2021-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 06-01-2021
Notification No. 1/2021 -Customs (ADD)
Seeks to further amend notification No. 2/2016-Customs (ADD) dated 28th Jan, 2016 to extend the levy of Anti-Dumping duty on Melamine originating in or exported from China PR, up to and inclusive of 28th Feb, 2021.

Date: 04-01-2021
Trade Notice No. 36/2020-21
Cyber fraud complaints from Indian Exporters - Trade Advisory reg

Date: 04-01-2021
Notification No. 02/2021-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 04-01-2021
Notification No. 02/2021-Customs (N.T.)
To rescind the Customs (Advance Rulings) Rules 2002



Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001