GST Reforms: Govt Aims to Ease Burden on SMEs

FINANCE ministry has proposed ease of compliance as a part of Good and Services Tax (GST) reforms to ensure smooth functioning and seamless business environment for businesses, primarily for small and medium enterprises and start-ups.

- PUSHITA DEY @ New Delhi

By enhancing the process of three Rs - registration, return and refund, the center aims to ease the burden of SMEs.

For small businesses, the registration process has been fast-tracked, and it will be done within three days of application, informed a source from the ministry. Similarly, for the return filing, the manual intervention has been minimized to ensure they don't have to deal with compliance burden arising due to multiple notices and any sort of mismatch between input tax and tax summary can be curtailed.