The Goods and Services Tax (GST) Council’s decision to waive mandatory registration for small businesses selling via e-commerce may prove to be a game changer for the success of the Open Network for Digital Commerce (ONDC), Trade Minister Piyush Goyal said on Thursday.
To bring parity between online and offline suppliers, the GST Council on Wednesday waived GST registration for those entities that have an annual turnover of up to Rs 20 lakh and those not making any inter-state taxable supply. It also extended the GST composition scheme to online sellers, subject to the turnover threshold of Rs 1.5 crore. The changes in the law will come into force on January 1, 2023.
“This is a major decision which will