GTRI Advocates GST Slab Reduction, Raised Exemption For Small Businesses
As the GST marks its 7th anniversary since its launch on July 1, 2017, it has evolved into the world's largest platform for indirect taxation, boasting over 1.46 crore registrations, according to GTRI
The Global Trade Research Initiative (GTRI) on Friday suggested a series of recommendations to enhance the Goods and Services Tax (GST) framework in India. These include proposals to raise the GST exemption threshold for businesses with turnover up to Rs 1.5 crore, streamline the number of tax slabs, and eliminate state-specific registration requirements.
These reforms are intended to streamline GST operations, foster a more business-friendly environment, and bolster economic growth.
As the GST marks its 7th anniversary since its launch on July 1, 2017, it has evolved into the world's largest platform for indirect taxation, boasting over 1.46 crore registrations, according to GTRI.
