Small traders in Assam are poised to receive crucial support as the state government initiates measures to address challenges stemming from Goods and Services Tax (GST) notices.
In a significant move, the Assam Cabinet has endorsed the report of a specially formed sub-committee, underscoring the government’s dedication to alleviating the burden on small businesses. The sub-committee’s findings have resulted in comprehensive and time-bound directions aimed at offering relief.
For the financial years 2017-18 and 2018-19, up to 26,013 cases will undergo suo moto rectification under section 161 of the Assam GST Act 2017. This rectification, to be completed within three months, will be conducted on a case-by-case basis, adhering strictly to the GST law.
Addressing more recent cases from the financial years 2019-20, 2020-21, and 2021-22, the cabinet has stipulated that notices generated through Big Data Analytics Software (BDAS) will follow a new Standard Operating Procedure (SOP). To curb undue harassment of small traders, the government has set a Rs 5 lakh threshold for the issuance of BDAS-assisted notices.
The cabinet aims to resolve these issues judiciously within a three-month timeframe, striving to balance GST compliance with the prevention of unnecessary taxpayer and trader harassment. By tackling these concerns, the Assam government aims to foster a more business-friendly climate for small traders in the state.
Original Story https://www.indiatodayne.in/assam/story/assam-relief-measures-announced-for-small-traders-facing-gst-challenges-1068312-2024-08-09?utm_source=rssfeed
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