The Central Board of Indirect Taxes & Customs (“CBIC”) has issued a flyer for Micro, Small & Medium Enterprises (MSME) sector. As in its 29th GST Council meeting held on August 04, 2018, it was decided by the GST Council to form a Group of Ministers (GoM) for MSMEs which would identify the measures to be taken to provide a conducive environment for the growth of MSMEs after examining the recommendations of the Law Committee, the Fitment Committee and the IT Committee on the representations and suggestions relating to the MSME sector received from various stakeholders. The following are the aspects covered under this flyer are as under.
- GST for MSME Sector.
- Compliance benefit for MSME under GST.
- Tax Invoice under GST.
- Special Invoice provisions for MSME Sector.
- Returns in GST.
- Special return filing provisions for MSME Sector
The flyer on MSME sector can be accessed at: http://www.a2ztaxcorp.com/wp-content/uploads/2018/11/MSME_Flyer.pdf