Ahead of the GST Council meeting on March 10, a ministerial panel under Bihar Deputy Chief Minister Sushil Modi will meet to firm up the simplified ‘single-stage’ return filing process.
In the run up to the meeting, key members of the return simplification committee Nandan Nilekani and CBEC Excise Commissioner Manish Kumar Sinha, along with GSTN Chairman Ajay Bhushan Pandey met Finance Secretary HasmukhAdhia.
The GoM under Sushil Modi will look at finalising the simplified return filing system on February 24, which will be then taken up by the GST Council on March 10.
It will ‘mostly be a single-stage’ return where invoices would be matched while buyer makes the payment for supplies.
The GoM would also consider separate dates of return filing for MSMEs and large businesses.
The new return filing process will be rolled out from the next fiscal after giving suitable time to businesses to adapt to the new software and also to GST Network to develop a new system for glitch free filing of returns.
In the new system, GST returns would be auto-populated based on the invoice details filed by businesses on the GSTN portal.