Union Budget 2026: GST Rules Simplified for Small Businesses, Major Relief Expected

• Government plans to simplify GST rules for small enterprises (MSMEs) in Union Budget 2026, aiming to reduce compliance burden.
• Proposals include allowing quarterly GST payments instead of monthly for small businesses, as reported by Mint.
• A lenient approach is considered, with only warnings for the first two instances of return filing delays or unintentional errors, avoiding penalties.
• This move is crucial as US tariffs have impacted MSMEs, which contribute significantly to India's GDP and exports.
• Compliance costs for micro-enterprises can be 6-8% of their turnover, making simplification a long-standing demand.

Why It Matters: Union Budget 2026 to simplify GST for MSMEs, easing compliance and boosting small businesses.