The Central Government plans to improve the existing GST return filing system instead of rolling out a new model. The new system was supposed to be launched on 1 October this year but same seems to be scrapped.
The move is aimed at making compliance much easier,” Yogendra Garg, Principal Commissioner, GST Policy at CBIC, while speaking at a webinar hosted by Assocham said. It is pertinent to mention here that the Goods and Service Tax Network (GSTN), the IT support of the GST regime, is working on modifying and improving the current returns and will soon announce an advanced version of the existing system.
GSTN- Upcoming changes / initiatives
- Improvements in GSTR-2A to show the status of filing of GSTR-1 and GSTR-3B by the supplier.
- To show status of amendment of invoice with month of amendment.
- Providing detail of invoices considered for computation in table 8A of GSTR-9.
- Flow of ITC due to IGST paid on import from ICES to GST system.
- Linking GSTR-1 with GSTR-3B (for flow of liability). PDF mail of filled GSTR-3B.
- Linking GSTR-2A/2B & ICEGATE data with GSTR-3B for better ITC management.
- Delinking of credit/debit notes with invoices in GSTR-1.
New Features:
- Matching Tool for comparison of system drafted purchase register and own purchase register.
- Facility to create Vendor Master /HSN masters on taxpayer dashboard.
- Communication of channel between buyer and supplier for missing invoices.
- Improvement of Comparison Table of liability and ITC.
General direction of user experience improvement:
- Enabling GSPs to do some more activities.
- Compilation of common errors and way around.
- Showing the status of the application after every stage of processing.
System computed PDF for liability in GSTR-3B
Challenges in ITC declaration using GSTR-2A:
- Dynamic statement
- Has both uploaded and filed documents
- No system aid to determine available ITC
- Document sit in original tax period hence difficult in reconciliation
- Long time for downloading GSTR-2A
Taxpayers wanted a quick process where all invoices on which ITC is available is available to them quickly and at one place.
Introducing GSTR-2B:
In view of the taxpayers requirement, in the advanced version of the existing GST return filing the new form GSTR 2B will be introduced. Just like form GSTR 2A, Form GSTR 2B will have details of purchases of the company or business with added information on input tax credits (ITC).
- Static Statement generated monthly
- PDF and Emailer
- Document-level ITC Available and Unavailable
- ITC summarization aligned with GSTR-3B
- Instant download of PDF, EXCEL
- Filter and Search options
- Advance search to view documents beyond 1000 record
Source: GSTN Tech
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