Ministerial panel meeting decided to roll out a new simplified model for GST return filing system in single-page, according to new system credit could be given on a provisional basis once the supplier uploads the sales invoice.
New Delhi, Apr 21, “The proposed new single page GST filing simplification system will be in place over the next three to six months that will ease the present problems” said by Union finance secretary Hasmukh Adhia
In the Ministerial panel meet which held on April 17, decided by the group of ministers to bring the simplified version of GST filing system to ease the problems faced by taxpayers while filing the returns.
Answering to a question on the leakages being reported in GSTR-1 and GSTR-3B, the top finance ministry official said, “we are checking GSTR-1 and GSTR-3B. It is coming to the fore that there is leakage and we will plug it”.
Last month, GST council discussed 2 models of GST return and suggested discussion by Group of ministers for more simplification of the model.
“There are leakages but there is no perfect matching until the new system gets in place. Within three to six months a new system will be in place, making the whole process smoother,” added by Union finance secretary
Finally in meeting decided that the taxpayers would have to file only one return every month, instead of GSTR-1, 2 India and 3 as was conceived earlier.
In the new model total number of returns filed by both small and large businesses would be 12 in a year, in place of 36 at present.