Small and low-risk businesses will now receive GST registration within just three business days. The central government launched a new GST registration scheme for small and medium-sized businesses starting today (November 1st). The new scheme will benefit businesses whose monthly GST is less than ₹2.5 lakh. The central government also released GST collection figures for October. ₹1.96 lakh crore was collected from the Goods and Services Tax (GST) in October, a 4.6% increase year-on-year. According to the data, a year ago, in October 2024, the government collected ₹1.87 lakh crore in GST. September collections increased by ₹3,000 crore compared to the previous month, August. ₹1.89 lakh crore was collected in September, an annual increase of 9.1%. Previously, a record ₹2.37 lakh crore was collected in April 2025, and ₹2.01 lakh crore in May. 96% of new applicants will benefit. Finance Minister Nirmala Sitharaman, during the inauguration of the CGST building in Ghaziabad, stated that this new scheme will benefit approximately 96% of new applicants. She stated that the department’s goal is to ensure no delays or obstacles in the process. Understand new GST registration in 3 questions… What is the new process and who will benefit? Answer: This scheme was approved in the GST Council meeting held in September. The Simplified GST Registration Scheme will be available to small or low-risk businesses identified by the GST system based on data analysis or who self-declare that their monthly output tax liability, including CGST, SGST/UTGST, and IGST, does not exceed ₹2.5 lakh. Applicants will only need to submit a self-declaration, or the GST system will automatically place them in the low-risk category. Currently, over 15.4 million businesses are registered under GST. This new route will expedite the access of new applicants. This will be easier for small shopkeepers and startups. Why this change? Answer: Small businesses used to face difficulties due to delays in the registration process. Now, PAN-based registration will be possible within 3 days. The GST Council approved this and supported small businesses. How to apply? Answer: The process has started today. Applicants can choose the low-risk route by visiting the GST portal. Provide a self-declaration. Seek guidance at the help desk. Opt-out at any time. This is a voluntary scheme, meaning businesses can opt-out of it at will and opt-out if needed. Currently, more than 15.4 million businesses in the country are registered under GST. The new GST rates came into effect on September 22nd. Previously, only two GST slabs of 5% and 18% were implemented on essential goods from September 22nd. The government has done this to simplify the tax system. This has made common necessities like UHT milk, cheese, ghee, soap and shampoo cheaper, as well as ACs and cars. The decision was taken in the 56th meeting of the GST Council. Finance Minister Nirmala Sitharaman gave this information on September 3. GST collection shows the health of the economy GST collection is an important indicator of economic health. Higher collections indicate strong consumer spending, industrial activity and effective tax compliance. In the month of April, businesses often clear year-end transactions from March, which leads to an increase in tax filings and collections. KPMG National Head Abhishek Jain said that the highest GST collection till date reflects a strong domestic economy. GST was implemented in 2017 The government implemented GST across the country on July 1, 2017. After this, 17 taxes and 13 cesses of the central and state governments were abolished. On completion of 7 years of GST, the Finance Ministry posted about the achievements made during the last seven years. GST is an indirect tax. It was implemented in 2017 to replace various indirect taxes such as VAT, service tax, purchase tax, excise duty. GST has four slabs of 5%, 12%, 18% and 28%. GST is divided into four parts:
