Neutral impactEconomy
One GST return a year? New scheme could ease compliance for 16 lakh small businesses
Economic Times 2 hrs ago·8 Oct 2026, 12:47 pm
Small businesses selling only to consumers may soon have the option to file GST returns annually. The GST Council has approved a plan for eligible taxpayers with turnover up to Rs 5 crore. Currently, these businesses file monthly returns under the existing GST structure. The new scheme is expected to ease compliance burdens and allow quarterly tax payments. Changes are set to take effect from April 1, 2027.
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- Category: Economy.
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