GST reforms phased implementation begins; draft returns opened for public comment from November 1
· Business · Indian Express, Rediff
The Goods and Services Tax Council approved phased reforms to simplify GST returns, with draft forms GSTR-1, GSTR-1A and IFF posted on the myGov portal from November 1 for a 30-day public comment period. Commissioner (GST Policy Wing) Gaurav Singh stated the modifications aim to streamline the invoice management system and eliminate the need for editing GSTR-3B, which currently triggers mismatch-based notices. Officials noted that nearly 80% of notices issued presently stem from mismatches between GSTR-1 and GSTR-3B filings. The revised forms will come into force from April 1 next year, targeting improved reconciliation and faster refunds, particularly for e-commerce sellers under the QRMP scheme.
Why it matters
Taxpayers under the QRMP scheme, especially e-commerce sellers, will benefit from simplified registration and faster refunds once the phased reforms are implemented from April next year. The 30-day public comment window starting November 1 allows industry feedback to reduce mismatches that currently account for most GST notices.
Read the original report — Indian Express
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