The Finance Ministry will invite comments from businesses on the proposed changes to the monthly GST return forms from November 1, a senior official said on Thursday, October 22, opening the next step in the GST Council's plan to cut return mismatches and reduce tax notices.
Source: The Hindu BusinessLine
Central Board of Indirect Taxes and Customs (CBIC) Commissioner for the GST Policy Wing Gaurav Singh said the amended return forms will be put up for public consultation on the MyGov portal on November 1 and will remain open for comments till November 30, PTI reported. The amended forms would be applicable from April 1, 2027.
Source: PTI via Livemint
The changes flow from the 57th meeting of the GST Council, of the Centre and state finance ministers, held on October 8. The Council approved an alternate mechanism for making amendments to liabilities and input tax credit (ITC) in GST returns, to minimise mismatches and reduce notices and intimations, and approved enhancements in GST Forms GSTR-1, GSTR-1A and IFF so that details in those forms reconcile better with the monthly tax payment form GSTR-3B.
Singh said the notifications and circulars on the decisions taken at the 57th Council meeting have been vetted by the Law Department and would be put in the public domain on Friday. He added that once the integrity issues of the ITC chain are resolved, it would give impetus to further reforms in GST.
The CBIC also plans to streamline the GST audit process. Singh said the process should be such that taxpayers face “no harassment”, noting that businesses operating in more than one state are currently subjected to multiple audits by GST authorities in those states.
What: public consultation on amended monthly GST return forms. When: on MyGov from November 1 to November 30; new forms apply from April 1, 2027. Why: fewer liability and ITC mismatches, fewer notices, better GSTR-1/1A/IFF reconciliation with GSTR-3B.