Matching of GST Invoices, returns to start soon

The government will soon start the process of matching returns and invoices under the Goods & Services Tax (GST) as the IT backbone for the tax reform measure stabilizes and the need to assess the extent of taxes due takes notoriety.

The government is also working on making the new tax system more user-friendly and has lined up several steps to hand-hold taxpayers.

Under the GST system, returns filed under forms such as GSTR-1 and 2 have to be matched with the GSTR-3 to ensure that the claims made by taxpayers are correct.

As there were complaints about the technical glitches in the GST Network (GSTN).  Since then, the GST Council has undertaken several measures to ensure the stability of the system and has asked Infosys, the technology provider, to fix the glitches.

The glitches in the IT system and uncertainty linked to the tax reform measure had triggered concerns over revenues. The government has maintained that it will take a few months for the system to stabilize.

Source: Times of India

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