GST rate cuts, quarterly return filing: India Inc hails Modi government’s decision

India Inc today welcomed the GST Council’s decision to cut rates on several items and simplification of tax return filing process for businesses, saying the move will boost compliance and benefit consumers.

In his first GST Council meeting since he took charge as the Finance Minister in May this year, Piyush Goyal allowed businesses with turnover of up to Rs 5 crore to file quarterly returns — a move which will benefit 93 per cent of the GST registered taxpayers. They will have to, however, pay taxes monthly.

Source:- Financial Express

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