There is news of relief for small and medium businessmen of the country. The Central Government is going to launch “Simple GST Registration Scheme” from November 1, under which small and low-risk businesses will get GST registration within just three working days. This step is being considered as a big change in the direction of making the process of starting a business easier and faster.
According to the GST Department, this scheme is for only those businessmen who will be considered “low-risk” on the basis of GST system data analysis. Also, such businessmen can also avail this benefit who self-declare that their total output tax (which includes CGST, SGST/UTGST and IGST) per month will not exceed ₹ 2.5 lakh. Under this scheme, businessmen can join it as per their wish and can also exit it if needed. The GST Council had approved this proposal in its meeting held on September 3.
Speaking at the inauguration of CGST building in Ghaziabad, Finance Minister Nirmala Sitharaman said that this new scheme will be implemented from November 1 and it is expected to benefit about 96 percent of new GST applicants. He told the officials that this scheme should be implemented quickly and without any hindrance so that the businessmen do not face any kind of problem. The Finance Minister has also instructed CBIC to create a special help desk at GST Seva Kendras, so that businessmen can easily get assistance in the registration process.
Currently, about 1.54 crore businesses are registered under the GST system across the country. The government believes that after the implementation of the new Saral Scheme, it will be easier for new businessmen to join GST, which will also increase the tax base and improve transparency.
The Simple GST Registration Scheme is part of the government's vision of Ease of Doing Business. Its objective is to connect new entrepreneurs and small businessmen with the GST system without much paperwork and delays. Experts say that this initiative will not only improve the business environment, but will also work to bring small enterprises into the formal economy. This will increase transparency in the tax collection system and the government will get more stable revenue in the future. This move is expected to make it easier than ever for small businesses to start and expand their business.
