GST tax rate cuts likely: Here is what will get cheaper and expensive
Earlier in May, the GSTN had announced it will launch a single-return system for making the process easier and for improving compliance. Giving the blueprint of new filing system, Finance Secretary Hasmukh Adhia reportedly said it will take between 6 and 12 months to get it fully implemented. The new filing system is expected to be implemented in phases.
The GST Council is likely to discuss the implementation of the simplified monthly returns system. Image source: Reuters