In its 26th meeting, Arun Jaitley-chaired GST Council decided that electronic way or e-way bill between states will be implemented from April 1.
In its 26th meeting on Saturday, Arun Jaitley-chaired GST Council (Goods & Services Tax) extended the existing system of filing returns (GSTR-3B) by another three months till June. Besides this, group of ministers (GOM) on the IT will look into the tax filing process and consult tax experts before taking a call, among other decisions, Union Finance Minister Arun Jaitley tweeted.
Union Finance Minister Arun Jaitley on Saturday, after the GST Council meet, said the electronic way or e-way bill for movement of goods between states will be implemented from April 1.
However, for intra-state movement, the e-way bill would be rolled out in a phased manner starting April 15, and will cover all the states by June 1.
The Goods and Services (GST) Council was expected to simplify the return filing process on Saturday, however, the Council could not decide on a simplified GST return form and entrusted the ministerial panel under Sushil Modi to chalk out a single page form which is simpler and evasion proof. Besides, tax exemptions to exporters have also been extended by six months to September.
On February 24 this year, Bihar’s deputy chief minister and state finance minister Sushil Modi had said that the e-way bill would be made mandatory from April 1.
In the 23rd GST council meeting, it was decided that filing of GSTR-2 and GSTR-3 forms would stop and only the filing of GSTR-1 and GSTR-3B would continue.
According to the recommendation made by Nilekani, instead of supplying invoices to be uploaded, a module can be formed where supplying invoice details can be posted, and based on the invoice data fed by the supplier, the system by itself generates the return.
GSTR-3B Return: Due Dates For February And March
Due date of filing GSTR-3B return is 20th of the next month. For instance, the 3B return for the month of March can be filed anytime before April 20, and similarly, the 3B return for the month of February can be filed anytime before March 20.
GSTR-1 Return: Due Dates For February And March
Taxpayers with an annual turnover that amounts to Rs. 1.5 crore or less are obligated to file their GSTR-1 returns quarterly. The due date for such taxpayers is 30th of the month following the end of respective quarter. For the March (Jan 1 to March 31) quarter, for instance, the deadline would be 30th of April.
Those with a turnover of Rs. 1.5 crore and above are meant to file monthly returns of GSTR-1. The deadline for monthly return is 10th of the month that comes two months after the end of respective month. For instance, the GSTR-1 return for the month of January can be filed by March 10. Likewise, returns for the months of February and March can be filed by April 10 and May 10.