New Delhi: With many states yet to pass amendments to roll out simpler return forms under the goods and services tax regime, a simplified process to file returns may be introduced only in the next financial year, two government officials said.
“Some states are yet to make specific amendments to their acts to enable rolling out the new simplified returns under GST. The Centre has already made changes in the law to facilitate the new return forms, but unless all states do so it cannot be rolled out,” one of the officials said.In July, the GST Council had approved quarterly returns for businesses with a turnover of up to Rs 5 crore, a move which is likely to benefit 93 per cent of taxpayers under the indirect tax regime.
So far, only businesses with a turnover of up to Rs 1.5 crore have been allowed to file returns under GST quarterly.The council also cleared two new return forms–Sugam and Sahaj–wherein lesser details are required compared with the regular forms for filing returns under the new indirect tax regime. “Earlier we were targeting January to roll out the simpler return forms. However, it looks like the form can only be implemented now from Apr 1,” the official said.The Centre wants a fool-proof system in place before introducing the simpler return forms to avoid any last minute glitches or roll backs, the second official said. It may be rolled out only after the 2019 general elections, the official added.
