Madhuri Jain Submitted 2018-09-07 10:26:14 The GST Council Eddie Goldman Shirt , together with the Central Govt, has initiated a new method of GST return filing. Their aim is to remedy the anomalies plaguing the current system and, therefore Cody Whitehair Shirt , to simplify the overall return process. These new measures are to be implemented in 2019.
Major changes in the upcoming GST return structure:
1) The number of returns is to be reduced. A decision has been taking by the GST council that a single return filing system will be replacing the existing multiple return policy. So, it means that multiple returns like GSTR-1, GSTR-3B Leonard Floyd Shirt , GSTR-2A and others will be shelved and only one return policy will be introduced.
2) A major change that will be implemented is that taxpayers will soon be able to file their returns via SMS. This will help small and medium traders as well as individual taxpayers as they will be able to file their returns from anywhere and at any time.
3) It will be simpler. The return will have only 5 to 6 tables. One of them will contain details of supply while another one will be for purchaseinput details. Based on the taxpayers鈥?invoices, the information in both these tables will be auto-populated. About 80% of the tables will be able to auto-fetch data from invoices. The remaining 20% of the table must be filled by the dealer.
4) The Council has decided to include allow taxpayers to amend each of their returns twice. They will also be able to report a negative balance or liability. Till now, there is no provision in the filing system that let us amend a return that has been filed.
5) This new system will also have the profit-based dealers鈥?filing of returns. After a dealer鈥檚 profile is selected Eddie Jackson Shirt , they will be asked to fill out a questionnaire. Thereafter, they will be able to proceed to file the return.
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About the author: Mike Yeager Publisher > Elements of Home Furnishings and Home Decor Posted On : Jan-03-2012 | seen (183) times | Article Word Count : 430 |
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