CBDT began the new year by introducing the Formats of ITR 1 & 4 even before the F.Y. ended.
Then why should their counterpart stay back !
So the CBIC as well has began it’s task towards the roll out of new GST Returns in this year in terms of the decisions of the GST Council in its 31st and 37th meeting.
In order to smoothen the transition, GSTN has already released the GST New Return Offline Tool on trial basis on the GST Portal. In order to carry out the User acceptance testing of new returns offline tool, GSTN has short listed a few Large taxpayers (both from Supplier and Recipient category) and due mails are sent to them to participate in this user acceptance testing.
A positive response from them will help the GSTN understand the resilience and capability of the Offline Tools and help encounter the issues faced in the next 3 months time. This will help in a smooth roll out of the New returns for all the GST taxpayers starting 1st April 2020!
As always, to educate the GST Taxpayers and Return filers, GSTN has come up with a Simplified and Colorful Document explaining the New GST Returns Format attached herewith for your perusal!
AUTHOR : ANKIT LOHIYA (CLICK HERE TO VIEW PROFILE)