{
  "id": 12934388,
  "title": "GST reforms: 16 lakh small businesses may get annual return option, easier e-commerce selling",
  "url": "https://urgent.news/2026/10/08/gst-reforms-16-lakh-small-businesses-may-get-annual-return-option",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T19:18:21.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/gst-reforms-16-lakh-small-businesses-may-get-annual-return-option-easier-e-commerce-selling/articleshow/134799885.cms"
  },
  "original_language": "en",
  "account": null,
  "summary": "The GST Council has approved a simplified compliance scheme for small businesses with a turnover of up to Rs 5 crore, allowing them to file just one GST return annually instead of quarterly. This reform, led by Mahesh Jaising of Deloitte India, aims to reduce compliance costs and administrative burden for small taxpayers by waiving late fees for delayed filings, rationalising general penalties, and amending fines for failure to furnish information. The GST overhaul addresses three key issues: the frequency of filing, the difficulty of obtaining and maintaining registration, and exposure to trivial notices and penalties. A new threshold of Rs 10,000 has been set for show-cause notices, and all pending cases below this threshold have been closed, providing relief from a large backlog of small-value disputes. Additionally, the simplified registration framework for small e-commerce sellers enables eligible businesses to sell across states without maintaining separate registrations, aiding micro, small, and medium enterprises in participating more easily in the e-commerce sector.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "One GST return a year? New scheme could ease compliance for 16 lakh small businesses",
        "url": "https://urgent.news/2026/10/08/one-gst-return-a-year-new-scheme-could-ease-compliance-for-16-lakh",
        "published": "2026-10-08T12:47:31.000Z"
      }
    ]
  },
  "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."
}