The GST Council will introduce new simplified return forms from April 2020 to simplify the entire taxation process for small taxpayers which forms a major chunk of the taxpayer base. Let’s take a look at the pros and cons associated with this simplified return forms.
Update as on 14th March 2020*
The new GST return system will be implemented from October 2020.
The present return filing system (GSTR-1, 2A & 3B) will continue until September 2020.
*Subject to CBIC notification
Update as on 20th September 2019
As per the decision taken on 20 September 2019 at the 37th GST Council Meeting, the implementation of the new GST return system for all taxpayers and for all forms stands deferred to April 2020.