The GST Council has approved a single monthly return for all taxpayers and given leeway to smaller taxpayers to file quarterly returns through simplified forms. While the new returns and the modified method to claim input tax credit that may be implemented in early 2019, will reduce the compliance burden and check tax evasion over the longer term, smaller businesses are likely to face hardships in the changeover phase.
Himanshu Relan, Partner- GST & Indirect Taxes shares his views on aforementioned story for Hindu Business Line.
