Making GST return filing easier was a key objective when the state finance ministers met today for the 25th GST Council meet chaired by Union Finance Minister Arun Jaitley. A definite decision on the matter, however, will now be taken in the next Council meeting, while taxpayers may continue filing their GSTR-3B. Till a definite remedy to GST return filing woes is found, the sellers and suppliers may continue to file their GSTR-3B and load their invoices. The details of supply can be provided after that. This will help track transactions between supplier and buyer.
Explanation could be sought from the seller later if there is any mismatch in the supply details. This will be a simple enough system, Jaitley said. Since the rollout of Goods and Services Tax on July 1 last year, demands have been raised to simplify the tax return filing process under the new indirect tax regime. A ministerial group led by Sushil Modi has already been working in this direction, along with an IT committee under GSTN Chairman Ajay Bhushan Pandey, and portal service provider Infosys. All three parties presented alternatives before the Council today.
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