Union Budget Eyes GST Relief for Small Businesses Amid Tariff Woes

• Union Budget may ease GST compliance for micro and small enterprises (MSMEs).
• Proposals include quarterly GST payments for micro enterprises (up to Rs 10 crore turnover) instead of monthly.
• Laxer enforcement: warnings for initial mistakes, penalties waived for the first two instances.
• MSME ministry moved proposals to finance ministry due to US tariffs impacting exporters.
• Other ideas: single-window app, free accounting software, self-certification audit, faster registration.

Why It Matters: Upcoming Budget may simplify GST for MSMEs, offering quarterly payments and softer penalties.