Composition scheme biz to now file simplified 'self-assessed' GST return quarterly

Composition scheme businesses will file the April-June quarter returns in July as per the new format.

Modi says changes have made GST 'even simpler'

GST Council on Friday gave relief to small and medium businesses on filing and payment of taxes.

Delay in reverse charge will boost SMEs’ businesses.

The e-wallets will provide exporters the funds to pay the tax without choking liquidity.

The Council reached a consensus to raise the composition threshold on companies with a turnover of up to Rs 1 crore.

Nearly 71 lakh excise, service tax and VAT assessees have migrated to the GST Network till July 25.

Small businesses with turnover of up to Rs 75 lakh earlier had time till today to opt for the scheme in GST regime.

Under composition scheme, traders, manufacturers and restaurants can pay tax at 1 per cent, 2 per cent and 5 per cent.