GST: No Decision Yet On Simplification Of Returns Filing Process
No decision has been made yet regarding simplification of the return filing process under the Goods and Services Tax regime. A meeting of the Group of Ministers, headed by Sushil Modi, ended inconclusively. The GoM has been set up to suggest ways to make the return filing process less cumbersome and examine issues related to the GST Network as well.
The GoM was of the view that credit matching should take place and suggestions on simplifying the process can be submitted before March 10 when the GST Council is set to meet.
Besides the return filing process, the GoM also discussed the E-way bill system and Modi assured that the portal will become live starting April 1 for inter-state movement of goods.
At a press briefing after the meeting Modi said:
- 9.5 lakh taxpayers have registered on the E-way bill portal so far.
- 6.5 lakh E-way bills are being generated on trial runs.
- E-way bills for intra-state movement of goods will start in a phased manner, in 4- 5 states.
- In Feb., 1.4 crore invoices were generated on E-way bill portal.
- Filing of GSTR-3B to continue for time being.
Prakash Kumar, chief executive officer of GSTN said that till yesterday, over 7.28 crore returns had been filed on the portal. As on date, 17.65 lakh taxpayers opted for the Composition Scheme and 56.72 lakh GSTR-3B returns have been filed for Jan.