Simplified GST Return Forms to be Rolled Out from 1st April, 2019
457
The new simplified GST return forms will be rolled out from April 1, 2019, Revenue Secretary Ajay Bhushan Pandey said Tuesday.
He exuded confidence that the government will achieve the budgeted target for Goods and Services Tax (GST) collection and said the revenue department is getting inputs about entities which are evading taxes.
In the first eight months (April-November) of the current fiscal, the government has mopped up over Rs 7.76 lakh crore from GST. The 2018-19 budget had estimated annual GST collection at Rs 13.48 lakh crore, which means a monthly target of Rs 1.12 lakh crore.
“We are short by Rs 4,000 crore this month (November). To arrive at any conclusion we have to have some more months’ data. But we are confident that we will be able to achieve our target. Our monthly target is around Rs 1 lakh crore. This we want to increase to Rs 1.10 lakh crore,” Pandey said. GST collection in November was Rs 97,637 crore.
Speaking to reporters on the sidelines of the Directorate of Revenue Intelligence (DRI) Foundation Day, the secretary said the refund process is being further streamlined to make it completely online and taxpayer friendly.
When asked about the rollout of the simplified return forms, Pandey said, “we are targeting from April 1”.
In July, the Central Board of Indirect Taxes and Customs (CBIC) had put up in public domain draft GST return forms ‘Sahaj’ and ‘Sugam’ and sought public comments. These forms would replace GSTR-3B (summary sales return form) and GSTR-1 (final sales returns form).
Pandey further said the next meeting of the GST Council, chaired by Union Finance Minister and comprising state counterparts, will be held this month.
K.C. MAHATO is expert in GST Consultancy and has an experience of more than 10 years in Indirect tax, Direct Taxes and the accounting profession. He is also giving GST Practical Training to Students and SME Traders. He provide services that most effectively meet client needs. His experience is concentrated in performing GST Laws & Practices and compliances of gst in a variety of industries.
