IMC had earlier made representations for simplification of process for ease of filing of returns andthe program of 17th Dec was step towards understanding the new system. The GST officialsexplained the various technical aspects of the new Sahaj and Sugam formats of the scheme to make filing simpler and easy to comprehend. These two schemes have taken into account all formats of transactions under the B2B and B2C mode as predefined financial turnover. One of the significant introduction under the new scheme is the filing of a Nil return through the SMS mode, which was hugely appreciated by the participants as a major step in ease of filing. The new format also has dealt with practical difficulties faced by the vendors and filing entities in cases of errors and late submissions.
The workshop was attended by over 160 finance and taxation professionals who discussed intricate case studies for better understanding of the new GST Return to be effective from April 2020.Published on: Monday, December 23, 2019, 09:30 PM IST