Summary
- The 57th GST Council Meeting on 8 October 2026 approved in principle an optional Annual Return Quarterly Payment (ARQP) Scheme for small businesses to simplify GST compliance.
- Eligible businesses with a turnover of up to ā¹5 crore making B2C supplies can file annual returns while making quarterly tax payments, reducing administrative burdens.
- This scheme aims to enhance cash-flow planning and operational efficiency for small retailers and grocery stores, though proper record-keeping remains mandatory.
- Implementation hinges on further legislative action; businesses should continue current compliance until the new framework is legally established.
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