New GST return: Here’s everything MSMEs must know about forms, old vs new returns, issues in new system

GST and Taxation for MSMEs:  The Goods and Services Tax (GST), was introduced as a single, straightforward tax system to replace multiple indirect taxes. The GST has served as an efficient tax system by bringing in more transparency and streamlining the tax filing process for both the government and the taxpayers. In order to simplify the compliance procedure further for GST-registe…