wordpress blog stats
Connect with us

Hi, what are you looking for?

Exempt small online businesses from GST registration: Industry bodies

How mandatory GST registration specifically hurts the online travel sector was also brought up.

Small businesses in India want to sell online but are discouraged by the compliance burdens posed by mandatory GST registration, industry bodies Alliance of Digital India Foundation (ADIF), IndiaTech.org, and Nasscom said in separate letters sent to the government in March and April this year. The associations have asked the government to exempt small online sellers from GST registration similar to how small offline retailers are exempt. "Many small businesses moved online over time and found that selling online granted them access to consumers in different geographies, helped them scale and manage their cash flows and gave some degree of resilience to pandemic-related risks that involved lockdowns, market closures and reduced footfalls. But many of these businesses today face a regulatory challenge on going digital." – IndiaTech What does the CGST Act say? Threshold-based registration: According to Section 22 of the Central Goods and Services Act, 2017 (CGST Act) Act, every supplier is liable to be registered under the Act if their overall annual turnover is above the threshold of 40 lakhs in case of supply of goods and 20 lakhs in case of supply of services. Mandatory registration for e-commerce retailers: However, according to Section 24 of the Act, persons who supply goods and services through e-commerce operators are liable to compulsorily register under the CGST Act, irrespective of whether their turnover exceeds the above-mentioned threshold or not. Why is the requirement for online retailers burdensome? Increased cost for small businesses and dampening of digital growth: "These provisions have increased the overall cost and complexity…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ