Reverse charge mechanism a catch-22 situation for small businesses

Worried about the steadily declining goods and services tax (GST) revenue collection, the GST Council, in a meeting last month, advanced the implementation of the e-way bill for interstate movement of goods to 1 February from 1 April. The government suspects large tax evasion, especially by small and medium enterprises, and feels this would help check it. The next step to further plug this revenue…