The government plans to introduce slew of measures to reduce compliance burden for small taxpayers struggling under the country's new indirect tax system, Goods and Services Tax (GST) that was rolled out from July 1.
In the next meeting on Friday, the GST Council may consider relaxing return filing timeline for small and medium enterprises (SMEs), defer reverse charge mechanism, and reopen registration for composition scheme for the third time to March 31, 2018.
GST, billed as India’s most ambitious reform move, has consolidated a patchwork of 17 local and central duties into a single levy, stitching together a common national market, and enabling way for a more robust economy. A little over three months since its implementation, the transition into new tax system has been facing teething troubles.
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