Small and
medium-sized enterprises (SMEs) consider as the main pillar of the Indian
economy. it helps to Indian economy to generate employment. these enterprises
export the goods and services that help to boost the Indian economy so it is
important to concentrate on small and medium enterprises and help them to
overcome their problems and sustain themselves in the market. The Organization
whose sales are below 5 crores now cants able to generate the digital permits
(e-way bill) for the goods transportation.
for those
who not submitted the return form for two regular tax periods.
The
National Informatics Center which handles the portal of generating the e-way
bills they say that this e-way bill option is to apply for all organization and
there are no criteria for there turnover.
These
rules also applied to the big organization from the 1st of October. In our
country, GST (Goods and Service Tax) applied before the three years since the
small and medium companies still struggling the increase and sustaining their
organization on a big platform. The big amount of GST (Goods And Service Tax)
Returns is a big obstacle in the organization that stands the many problems for
the small and medium enterprises. Many Organizations increase rapidly by
accepting the technology but the small and medium organizations that filing the
GST from their turnover so it's become hard for them to grow with new
technologies and enhanced their business.
The small
and medium enterprises facing some issues that create the unregularity for
filling the GST (Goods And Service Tax) that are Infrastructure restriction,
lacking formalization and proper technology adoption, front and back linkages,
delay of payments these are challenges small and medium enterprises face. these
challenges become big obstacles in small enterprises to filling the GST Return on
time.
The
Government is Mandatory to the big organization to filing the GST (Goods And
Service Tax) and shows the E-Way bills after 3.5 years of rolling out the tax
of Goods And Services. still, the GST is not becoming the perfect system for
tax, The small companies are not able to fill the GST Return in the covid-19 pandemic
this tax becomes one of the biggest obstacles from the small company's
path. The Government is also planning to
make the Digital Invoice and do all transactions online its applicable to The
organization whose turnover is 500 crore to 100 crores from the 1 of January
and is also applicable to all organizations from April. It is one of the most
important things for in Tax but it also increases the burden on taxpayers but
is also reduce the Tax evasion who not fill the GST on time to time. Ministry
of Micro, Small & Medium Enterprises ( MSMEs ) is capable to grow rapidly
they need only good direction and support in difficult situations. The new
modal of the tax filing is good by using digitalization and the combination of
Technology that helps them to enhance their business with new technologies and
sustain them in the market.
Conclusion:-
The
Government had faced a huge loss in the COVID-19 period and hence would be
strictly applying their rules on the GST (Goods and Services Tax on every
organization and the businesses even if they belong to small organizations. Due
to that, the small organization would face huge pressure on GST compliance this
year.
If You need any help regarding GST Registration You can contact us our Toll free Number 1800-3070-2070.
