Indian small business has been given enough time to prepare for the July 1 rollout of a new national Goods and Services Tax (GST), finance minister Arun Jaitley said on Tuesday, ruling out any further slippage in the timeline.
Jaitley, addressing a news conference, said there would be initial challenges after launching the tax, which will require all but the smallest businesses to file three detailed returns online every month.
But, with 6.5 million firms already registered for GST and more expected to sign up, there was no excuse for firms not to be ready for what has been billed as the biggest tax reform in India’s 70-year history. Read More…
Credit By : The Wire
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