Draft for new GST return forms to be released for public comments by Monday
The GST Council, chaired by Union finance minister, had last week cleared the new return filing form. It would replace the current GSTR-1 and GSTR-3B returns. “A new return system has been approved by the GST Council wherein the nil filers where there is no supply or purchase in a quarter, return can be filed by sending an SMS,” Gupta said.
Gupta said GST Council will take a final call as to when and by how much the composition scheme threshold would be hiked.Image source: Reuters