GST software application firm EasemyGST is working on ways to help small and medium scale businesses to make them compliant with the new indirect tax regime, the company said today. SMEs are facing issues because of which there is delay in compliance by a number of enterprises, it said in a statement.
Almost 50 per cent of assessees are yet to file return, said EasemyGST co-founder Ashish Mittal.
“There are only 10 days left for GSTR 1 and post that, input credit will start reflecting. Unless and until the money comes into circulation through input credit refunds to generate the much-needed working capital for enterprises, the businesses will face adversities,” he added.
Input credit of almost Rs 23,000 crore is stuck with the government, he pointed out.