In the upcoming 29th GST council meeting to be held on 4th August, the government is set to offer multiple benefits to the small businessman and taxpayer under the GST.
It is anticipated that there will be a high-level committee set up for the benefits of small taxpayers and Businessman and suggestions have been asked from around the corner of industries and trade experts.
The meeting agenda may also cover the tax incentives and digital payments under GST to further facilitate the small taxpayers and discussing over current incentives offered under GST.
The interim finance minister Piyush Goyal specifically mentioned the importance of such meeting as the high-level meeting will only considering the issues related to MSME sector which is one of a kind.
In this sequence, the council will focus on the new textile industries whose input tax credit and refund may be processed offline in which all the pending refunds will be given back soon.
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Even RBI and national payment corporation of India had suggested integrating the business transactions and payments which will further incline the taxpayers towards the digital payments.
