Mandatory 1% GST liability from January 1: Who all will have to pay? Here's your cheat sheet

About 45,000 taxpayers, which equals to only 0.37 percent of the total businesses registered in the Goods and Services Tax System, will be required to fulfill the mandatory requirement of a 1% percent cash system of GST liability with effect from January 1. This comes after the Central Board of Indirect Taxes and Customs (CBIC) amended GST rules in order to curb tax evasion by way of fake invoicing. But will all the registered persons have to pay 1 percent cash liability? Here's your cheat sheet.

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