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It is estimated that over 60 lakh MSMEs may come out from the Goods and Services Tax (GST) net if the threshold limit for micro, small and medium enterprises (MSMEs) is raised to ₹75 lakh.

GST collection dropped to Rs 94,726 crore in December 2018 as compared to November’s collection of Rs 97,637 crore.

Confederation of Indian Industry (CII) expressed its concerns regarding the Economic growth and laid emphasis on a settled GST. CII explained thoroughly that a settled GST would result in the improvement of Creditability and also in capacity expansion by an increment in infrastructure investment and these are amongst the seven key drivers that would help the Indian Economy grow by 7.5% next year.

Since the time of GST implementation in India, The Government has been constantly trying to simplify the GST process with accuracy. Thus trying to get the number of Ledgers and accounts reduced which they are bound to maintain.

Delhi high court has given relief to all those taxpayers who were not able to get their registration done under the GST scheme while at the time of implementation.

The Goods and Services Tax (GST) has been introduced in India on 1 July 2017. Since then it has come across several challenges.

The single standard rate of GST was proposed by the Congress party but has not been accepted by the BJP Government earlier.

The examination of Goods and Services Tax Practitioners (GSTPs) has been conducted by the National Academy of Customs and Indirect Taxes and Narcotics (NACIN) in terms of second proviso to sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017.

The Deputy Chief Minister of Bihar, Sushil Kumar Modi, discussed regarding the proposal for raising the GST threshold. He said that this proposal is going to prove as MSME friendly and would provide relief to the particular large section of the Business society which falls under this category.