GST gets simpler for small businesses and exporters

The GST Council tweaked rules on Friday to make life simpler for small businesses and exporters and also cut rates on 27 products , including man-made yarn, which was a key demand of the textiles sector, in a bid to mollify those complaining about the new tax regime. While the main focus was on reducing the compliance burden for a majority of taxpayers+ who contribute a minuscule part of the revenue, the move to reduce the rate on man-made fibre was meant to comfort businessmen in states such as Gujarat, where…

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