Friday, September 17, 2021
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Big gains for small

Three months on GST is now good for small traders and it is good news. GST is fine tuned to lessen hiccups and that is a welcome gain. Cuts on 27 items including eating out will become cheaper from now on. The highlight of the change includes quarterly return for companies with turnover of Rs 1.5 crores will encourage small traders. A flawed Goods and Services Tax was drastically overhauled in just three months of its implementation since July 1, to bring it in line with PM’s goal of ease of business. This may in turn, help the economy claw out of a three year long growth slump. It is understandable that the government tweaks GST rates and gives relief to exporters. The decision taken will come to force over the next one week as they got notified. A system of immediate refunds is being prepared.

Abhishek Ramaswamy

(The views expressed by the author in the article are his/her own.)

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