GST return filing process to become simple

Arun Jaitley says all taxpayers excluding a few exceptions shall file one monthly GST return in place of multiple filings currently required in a month.

New Delhi: The Goods and Services Tax Council (GST Council) on Friday approved a simpler tax return filing system under the new indirect tax regime and also approved the conversion of the GST Network into a government holding, finance minister Arun Jaitley said after the council met through a video conference.

The new return filing form will reduce the compliance burden for taxpayers as they would have to file only one monthly return and invoices have to be uploaded only by sellers. It will be put in place within six months and the transition will be done in a phased manner.

As per the transition plan decided by the Council, the existing GSTR 1 and GSTR 3B forms will continue for the next six months. After this period, all taxpayers will need to file one monthly return with composition dealers, while dealers filing no tax returns will need to file only quarterly returns.

Finance secretary Hasmukh Adhia said the monthly return filing system will come into force in six months and the present system of filing of return through GSTR 3B and GSTR 1 forms would continue for not more than six months. Photo: Indranil Bhoumik/Mint

For six months under the new tax filing regime, taxpayers will be able to avail provisional input tax credit, even if the seller has not uploaded the invoices. However, after this, input tax credit will be available to the buyer only for invoices uploaded by the supplier.

In case of non-payment of tax by the seller, the government has retained the right to recover dues from both the buyer and the seller. “In case of default in payment of tax by the seller, recovery shall be made from the seller. However, reversal of credit from buyer shall also be an option available with the revenue authorities to address exceptional situations like missing dealer, closure of business by supplier or supplier not having adequate assets etc,” said a finance ministry statement.

The GST Council also decided to covert GSTN into a government-owned company, with the centre and states holding a 50% stake each.

At present, 51% stake is held by private entities, valued at Rs5.1 crore, with the centre and the states holding 24.5% each.

To be sure, to protect existing employees and their salaries, the GSTN board has been allowed to continue with the staffing terms for a period of up to five years. They will also have the freedom to hire new employees at similar terms.

However, there was no consensus on the issues of levying a 3% GST cess on sugar as well as providing a 2% incentive on digital payments, subject to a cap of Rs100. The matter has been referred to two separate groups of ministers—one headed by Assam finance minister Himanta Biswa Sarma and the other by Bihar deputy chief minister Sushil Modi.

Raising his concerns, Kerala finance minister Thomas Isaac wrote on Twitter, “The 3% GST cess will fetch only Rs7,000 crore. Why can’t it be met from central budgets rather than through distorting GST. I shall agree to a cess only if a similar treatment is offered to rubber.” He further said that states such as Kerala, West Bengal and Telangana oppose the 2% incentive for digital payments.


GST: No Decision Yet On Simplification Of Returns Filing Process

The Group of Ministers tasked with simplifying return framework under Goods and Services Tax regime could not finalise the new design in its meeting today.

The GoM has invited suggestions from industry and tax experts within a week, which will be incorporated in a report and tabled before the GST Council, GST Network head Sushil Modi told reporters. The Council will then finalise the new return filing framework.

In a meeting with industry representatives and tax experts the GoM headed by Modi discussed whether input credit paid on tax can be provided on a provisional basis or linked to tax payments. The committee headed by GSTN Chairman Ajay Bhushan Pandey suggested several options, including having the seller upload all invoices and giving the buyer credit for the bills he acknowledges. As per this suggestion, no credit will be made available if the buyer claims there are missing invoices, an official involved in the deliberations told BloombergQuint on the condition of anonymity.

The other suggestion was to provide provisional credit to buyers if the seller fails to upload an invoice, the official said. If seller disputes that transaction, the credit given to the buyer would be reversed.

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GST Council to meet in March to usher in single monthly return

Moving away from the complicated system of filing three returns every month, the GST Council is likely to approve a single monthly return with annexure on sales and purchases.


AB Pandey, Chairman, GSTN

Bringing relief to taxpayers, the Goods and Services Tax Council is likely to meet early next month to finalise a new and simplified monthly return filing format.

To this end, GST Network Chairman AB Pandey met with stakeholders including industry chambers and traders on Thursday to get their views on a simplified return filing process.

“All participants are keen for a single and simplified return format,” said a person familiar with the development.

The expert panel under Bihar Deputy Chief Minister Sushil Modi is now expected to meet later this month to finalise its recommendations.

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E-way Bill: Why the nation needs a successful rollout at the earliest

The GST Council in its 22nd meeting held in October last year, had decided that the e-way bill under GST will shall be rolled out nationwide from the April 1, 2018. This was surely good news for businesses across the nation, as they got more time to get acclimatized to the various changes brought in by the GST era.

However, a couple of months later, at the 24th GST Council meeting held in December 2017, the powers that be, sprung a surprise at the business and transporter communi ..

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THE HINDU : 19 JAN 2018

GST e-way Bill System rolled out on trial basis

The Finance Ministry has rolled out the nationwide e-way Bill System for inter-state movement of goods on trial basis from Tuesday. The GST provision requiring transporters to carry an electronic waybill will be implemented from February 1 for inter-state movements.

The e-way bill system eliminates the need for transit passes for inter-State movements of goods and works on the self-declaration model, according to a commercial taxes department release.

The e-way bills can be generated through the portal by giving details such as invoice related to the consignment, vehicle details, tax value, GST rates, among others. A copy of the bill will be sent as an SMS to the registered mobile number.


GSTN chairman-led panel to consult experts to make return filing easier

The committee tasked with simplification of GST returns filing will consult tax experts and trade bodies to make the process convenient for businesses that have minimal transactions, its chairman said today.

GSTN Chairman Ajay Bhushan Pandey-headed panel comprises tax commissioners of Karnataka, Gujarat, Andhra Pradesh and Punjab and senior officials from the Department of Revenue and the CBEC.

“We are also discussing with experts and taking opinion from various o ..


GST tax returns filed increase as compliance rises, tax mop-up jumps

Thanks to the proactive steps taken by the Goods and Services Tax (GST) Council to remove the sundry glitches that used to trouble taxpayers in the initial months after the GST launch and also the progressive lowering of tax rates by the council over its last few meetings, compliance and tax collections have picked up of late. This has not only reduced the states’ revenue shortfall considerably over the period but boosted the government’s confidence that GST would eventually expand the tax base and yield revenue higher than the taxes that collapsed into it did in the previous regime.

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GST Council eases filing norms till March 2018:

In a major relief for the industry, the GST Council has eased the compliance burden on the industry till March 2018. It has extended the simplified form GSTR3B till March 2018, introduced simplified GSTR3B with indicative filing facility and form for those businesses which have nil tax liability or have no transactions to file in invoice.

About 40% of the businesses filing returns on GST Network portal have nil tax. The GST Council also set up a committee under GSTN Chairman Ajay Bhushan Pandey to look into making GSTR-2 and GSTR-3 business friendly.

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ET NOW : 27 SEP 2017

EY-ET Now Poll:
India Inc Feeling The GST Pinch

Three months into India’s new tax order and GST collections are not very encouraging. With tax compliance at just about 55 per cent, it is not surprising that India Inc is feeling the pinch. ET Now has joined hands with Ernst & Young to get you a comprehensive poll and Ahswin Mohan gives you an overview on what this poll points out to. Tune-in to ET Now at 9 pm today for detailed insights.EY-ET Now poll: India Inc feeling the GST pinch?


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As the new GST era continues to unfold, EYE ON INDIA – Insights on doing business has been providing keen insights into the experiences and challenges faced by the India Inc. In this episode our panellists shared their insights into policy developments and practical issues in filing of returns faced by businesses.

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Watch EY – CNBC-TV18 episode on GST: The Compliance Factor. Navin Kumar, Chairman, Goods and Services Tax Network (GSTN), Mahender Singh, Member – Central Board of Excise & Customs (CBEC), Harishanker Subramaniam, National Leader and Partner, Indirect Tax, EY India share insightful view into compliance issues businesses are facing

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