A big relief

GST Council should act fast and do more

A group of state finance ministers (GoM) has suggested another round of changes to the architecture of the goods and services tax (GST). The bulk of these recommendations, which will now be taken up by the GST Council in its next meeting on November 9 and 10, is aimed at reducing the compliance burden on small businesses, many of which have either dithered over joining the GST Network or have faced numerous hurdles after doing so. Among the key recommendations, the GoM on Sunday pitched for increasing the ceiling for eligibility to the so-called composition scheme from Rs 1 crore