{
  "id": 12924534,
  "title": "GST Council approves concept note for optional quarterly tax payment for small businesses",
  "url": "https://urgent.news/2026/10/08/gst-council-approves-concept-note-for-optional-quarterly-tax-payment",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T18:23:19.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/india/gst-council-approves-optional-quarterly-tax-payment-scheme-for-small-businesses-11791482817472.html"
  },
  "original_language": "en",
  "account": "The GST Council has approved a concept note for an optional quarterly tax payment scheme targeting small businesses with an annual turnover of up to ₹5 crore, according to Union Finance Minister Nirmala Sitharaman. Under this proposed scheme, eligible businesses would file only one annual return while making GST payments on a quarterly basis. The detailed framework of the scheme will be considered by the GST Council at its next meeting. This optional compliance scheme is designed to simplify GST administration and reduce compliance burdens for small businesses, following a series of changes aimed at streamlining the system.",
  "summary": "Under the proposed scheme, eligible businesses would be required to file only one annual return while making tax payments on a quarterly basis",
  "key_points": [
    "GST Council approves optional quarterly tax payment scheme for small businesses.",
    "Annual turnover up to ₹5 crore would benefit from the new scheme.",
    "Scheme to simplify GST administration and reduce compliance burdens."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}