Source: The Hindu Business Line, Dec 02, 2018
Mumbai: In what could well turn into a pre-poll relief for traders and businesses, the Centre may opt to delay the rollout of the new format of simplified monthly returns for the Goods and Services Tax (GST).
“This will have to be a decision by the GST Council. But given that businesses have struggled significantly with GST returns in the past, it may not be right to upset them, with State elections and more importantly, general elections just around the corner,” said two persons familiar with the development.
Current system to continue
This could potentially mean that taxpayers under GST are likely to be allowed to continue with the current system of filing GSTR-3B returns until May or June next year. A final decision on the issue will be taken by the GST Council. Read the rest of this entry »