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The GST Council in its 31st meeting decided that a New GST Return system will be introduced to facilitate taxpayers. In May 2019, a prototype of the offline tool has been shared on the GST Portal to give the users a look and feel of the tool. The look and feel of the offline tool would be the same as that of the online portal.
29th December 2021
The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles.
1st September 2021
45th GST Council meeting was held on 17th September 2021. Tax concessions on COVID-19 essentials got extended, Matter on GST compensation to states was taken up, correction of inverted tax structure, etc were on the agenda.
28th May 2021
43rd GST Council meeting took place on 28th May 2021. The Council approved the GST amnesty scheme to be re-introduced, the late fee was rationalised for all taxpayers, especially for small taxpayers and IGST is exempted on import of COVID treating equipment and relief materials up to 31st August 2021.
21st May 2021
43rd GST Council meeting took place on 28th May 2021 (Friday), via video conferencing and was chaired by Union FM Nirmala Sitharaman.
18th February 2021
Various media sources have stated that the next 43rd/44th GST Council Meeting is set to be held in mid-March 2021.
ITR Sahaj is ITR-1 and ITR Sugam is ITR-4, now GST will have Sahaj and Sugam forms. Regular taxpayers with a turnover of up to Rs 5 crores can now file GST returns on a quarterly basis against the earlier limit of Rs 1.5 crores, either in ‘SAHAJ’ or ‘SUGAM’.
Small taxpayers making only B2C supplies can file Sahaj returns. Taxpayers making B2B supplies or making B2C and B2B supplies, but having turnover of Rs 5 crore or less, have been given an option to file ‘Sugam’ Returns on quarterly basis. The quarterly returns will be mostly be similar to the monthly returns, but require lesser information to be filled as compared to the regular returns. The taxes have to be self-assessed and paid on a monthly basis even for small taxpayers opting for the quarterly return scheme. The monthly returns are compulsory to be filed for taxpayers having turnover above Rs. 5 crores. Their return too has been simplified and now contain only two main tables – One to report outward supplies and another for availing ITC based on invoices uploaded by the supplier For availing ITC, invoices uploaded by the seller can be viewed and accepted or rejected by the buyer on a continuous basis. This largely auto-fills the return form based on the invoices uploaded by the buyer and seller. The new simplified process can be summarised as – ‘UPLOAD-LOCK-PAY’.
Taxpayers can create their profiles based on the nature of supplies made and received by them. The return would show only those information fields that are relevant to the taxpayer’s profile. Also, taxpayers without any purchase or sale in a period can file NIL returns through an SMS. The new returns also provide taxpayers the facility to amend their invoices and other details filed in the return by filing an amended return. Taxpayers can also make payment through the amendment returns and save on their interest liability. All taxpayers other than small taxpayers have to compulsorily file monthly GST returns.
Download the Detailed Proposal of New GST Return filing Process.
If invoice no. 1 of April is uploaded on 8th of May and invoice no. 2 of April is uploaded on 15th of May by the supplier, the recipient shall be able to avail input tax credit for invoice no. 1 with the return of April filed on say 20th May and for invoice no. 2 he shall be able to avail input tax credit with the return filed for the month of May, filed on say 20th of June.
Will be treated as a self-admitted liability by the supplier and proceedings will be initiated against him after a reasonable show cause.
What if the supplier does not upload the Invoices/ Documents. Then, Reporting of missing invoices by the recipient can be delayed up to two tax periods to allow the recipient to follow up and get the missing invoice uploaded from the supplier.
Purchase invoices received by the recipient in April on which input tax credit has been availed but not uploaded by the supplier shall be reported by the recipient not later than the return of June filed in July. Information about the missing invoice uploaded by the recipient shall be made available to the supplier. Taxpayers filing quarterly returns shall report missing invoices in the next quarter.
Filing the details of the Shipping bill in the return at a later date shall not be considered as the filing of an amendment return. Earlier, all taxpayers having turnover between Rs 1.5 crores upto Rs 5 crores had to file monthly GST returns in GSTR-1 and GSTR-3B. Also, the GSTR forms had more tables and information to be filled. This move by the Council is aimed at increasing the ease of doing business for all taxpayers.