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Registration norms may be relaxed for small e-commerce businesses

  • June 23, 2022
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Registration norms may be relaxed for small e-commerce businesses

Subject: Economy

  • The GST Council in its meeting next week is also likely to consider a proposal to relax compulsory registration norms for small businesses, which use any e-commerce platforms to sell their products. Such a move, once implemented, will help small businesses in a big way.
  • First, exemption will be available up to aggregate turnover on all-India basis not exceeding the turnover, as prescribed under the law.
  • In other words, small businesses having annual turnover up to ₹40 lakh and ₹20 lakh for goods and services, respectively (₹20 lakh and ₹10 lakh, respectively, in select States) will get exemption. Second, such businesses will not be required to make any inter-State taxable supply.
  • Additionally, they will be required to declare PAN and the principal place of business.
  • Further, composition dealers (having turnover up to ₹1.5 crore a year) may also be permitted to make supplies through an e-commerce operator.
  • Businesses with annual turnover of ₹2 crore may be given an exemption from filing annual returns (GSTR 9 and 9A) for FY22.
economy Registration norms may be relaxed for small e-commerce businesses

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