Monthly GST Filing process may be reviewed by the Government

The government may review the pattern of monthly GST (Goods and Services Tax) Filing every month under GST regime. The main idea behind the same will be to provide some ease to the taxpayers.

Currently, the businesses have to file returns as GSTR-1, GSTR-2, and GSTR-3 for every month. The forms with outward supplies detail for taxable goods and/or services, inward supplies for claiming input tax credit and monthly return.

Businesses have complained about invoice matching while filing GSTR-2.

The government has allowed businesses to file an initial tax return and pay taxes by filing the form GSTR-3B by 20th day of next month. This form is only for the period July to December and will not be continued from January 2018.

In accordance with the government official, the date for filing GSTR-3B may get extended as matching the invoices is an issue and therefore, the certain time must be provided to settle down.

Further, the decision to this effect is pending for next month.

Souce: Economic Times

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