FA, 2020 amendment increasing...
The MSME taxpayer will at this point don't need to sign on to the GST portal to file their return. Rather they can file their return through an SMS to help lessen their compliance cost.
While on the meeting of bharat chamber of commerce the chairman of central board of indirect taxed and custom Ajit Kumar had stated that MSME taxpayers with nil liability can file GST return by an simple SMS & hopefully this will improve the simplicity for working together,especially during the Covid-19 situation.
GST collection over the most recent two months has indicated a positive trend, increasing a 10% year-on-year increment.
He said from January upcoming next year small taxpayers having a total turnover of up to Rs 5 crore in the coming financial year can file tax return on a quarterly premise and pay duty on a monthly basis.
Generally taxpayer have to file their returns each & every month of year thus to simplify, this scheme will permit taxpayer to file all their tax in 4 returns.Even adding another provision of registration at the GST portal through an #Aadhaar validation will enable the taxpayer to get registered inside 3 working days.
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