The Indian government’s effort to ease burden and harassment faced by small businessmen and traders over filing good and service tax (GST) returns is beginning to bear fruit with the expansion of GST Suvidha Centres that are springing up across the country through a franchise model. These c…
Tag: GST network (GSTN)
GST impact: Small businesses could under-report income initially
When the nationwide goods and service tax rolls out on July 1, it is likely that micro and small enterprises will under-report their yearly income. Firms might do so to stay in the Rs 20-50 lakh bracket so that a low tax rate of 1-2 per cent applies to them. Increased compliance under GST will [&…