- Financial Express
Parl panel: Extend GST Composition Scheme to e-sellers; onboarding MSMEs should be obligatory for...
Ease of Doing Business for MSM Es: A Parliamentary committee report on the promotion and regulation of e-commerce in India has opined multiple steps for the government to be taken to boost MSMEs’ e-commerce participation. Among the key suggestions in the report, submitted to the Rajya Sabha secretariat on Wednesday, was to extend the Goods and Services Taxes (GST) Composition Scheme to online sellers subject to the turnover threshold of Rs 1.5 crore in order to incentivize MSMEs toward e-commerce adoption.
Currently, small businesses opting for the scheme are required to pay 1 percent tax on their annual turnover, instead of calculating GST liability monthly and are permitted to make only intra-state supplies. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
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