The GST Council, in its 31st meeting, has decided to implement the newly simplified GST returns from next April on a trial basis. According to the decision of the Council, the new returns shall be mandatory from 1st July 2019 only.
Earlier, there were reports stating that the newly simplified returns shall be implemented from 1st April onwards. However, now it has been confirmed that the new return filing system shall be introduced on a trial basis from 01.04.2019 and on a mandatory basis from 01.07.2019.
However, the recent reports stated that though the new GST returns is expected to be ready in April, the government may not mandate its use until the general elections are over as it is keen to avoid any fresh controversy related to the filing.
In July, the GST council approved the new and simplified returns filing format. In September, GST Network (GSTN) asked software vendor Infosys to design new forms for filing returns by traders.
The government was targeting April 1 for the roll-out of new GST return forms. Until the new forms are roll-out, the businesses will be required to continue filing GSTR-1 and GSTR-3B.
In July, the Government had released a draft on New Simplified GST Returns as approved by 28th GST Council Meeting.
All taxpayers excluding small taxpayers and a few exceptions like ISD etc. shall file one monthly return. The return is simple with two main tables. One for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier. Invoices can be uploaded continuously by the seller and can be continuously viewed and locked by the buyer for availing input tax credit.
