Free Press Journal

GST council looks to simplify return form


New Delhi : Finance Minister Arun Jaitley-chaired GST Council will meet on May 4 to discuss a simpler return form and the amendments required in the indirect tax regime rules.

The 27th meeting of the Council, comprising state finance ministers, will meet through video conferencing and will also mull over the proposal of converting GSTN into a government company.  A decision on return simplification could be on the cards with the Sushil Modi-led Group of Ministers putting before the Council the three models of new return form for discussion, an official said.

With Jaitley been advised by doctors to stay in isolation to avoid contracting infection, the meeting has been planned through video conferencing.

The Council had in March discussed on two models of GST returns and suggested that the GoM would work further simplification. The official said the amendment to the law would be taken up once the Council clears the new GST return format. One of the models was that provisional credit should not be granted unless the taxpayers file returns and pay taxes. The second model stated that provisional credit could be granted to a taxpayer, but returns have to be filed within 3-4 months.