Business / Draft, autosaved
Small traders brace for the new GST filing rules
From next quarter, businesses with turnover under ₹5 crore will move to a simplified monthly return, a change the finance ministry says will cut compliance time in half for most small traders.
Shop owners in the city's main wholesale market are less certain. Several told us they still rely on accountants who file for dozens of clients at once, and that a new form in the middle of the festive season means more cost, not less.
Tax practitioners expect a transition window, but the notification so far gives no date for when late-filing penalties under the new format would begin.
