New GST returns system may not significantly benefit small taxpayers

The assessees have to pay tax and upload sales invoices on a monthly basis The GST Council’s decision to allow taxpayers with an annual turnover of less than ₹5 crore to file quarterly returns will not benefit the small taxpayers as much as expected, according to tax analysts. While the move may seem beneficial for small taxpayers as it reduces their compliance burden in terms of how often they ha…