Page 36 - GSTL_20th August 2020_Vol 39_Part 3

J68 GST LAW TIMES [ Vol. 39
troduce, within the existing framework, changes in a staggered manner, so that
taxpayers are not put out.
Plugging tax evasion and preventing frauds in claiming input tax credit
will come with the territory. A taxpayer with a turnover of less than ` 5 crore will
be allowed to file summary returns (GSTR-3B) every quarter, likely from
November (now it has to be done every month).
Around 70 per cent of the taxpayers are likely to be covered under the
quarterly return filing system.
The returns will also be auto-populated to minimise errors, ease reconcil-
iation, and simplify compliance. Enhancing and advancing the return-filing, the
GST Network (GSTN) is an alternative to the proposed ‘simplified GST return’
forms, which is kept in abeyance since March by the GST Council in view of the
lack of Information Technology (IT) preparedness.
The changes will cover e-invoicing, quarterly return filing, linking return
forms, the auto-population (giving data) of forms, input tax credit determination,
and buyer-supplier communication.
Five teams of 60 tech professionals are working on the Returns En-
hancement and Advancement Project. A communication channel between buyers
and suppliers is being worked out to facilitate compliance. The buyer will be able
to nudge the seller in case the invoice has not been uploaded for claiming input
tax credit. “A buyer-supplier communication system will be put in place to help
the purchaser ascertain the input tax credit that it can claim, based on the tax
paid by its supplier and remind his vendor in case the invoice has not been up-
loaded,” said a Government Official.
Besides, a new Form, GSTR-2B, will be introduced for availing of input
tax credit, and it will plug leaks and frauds.

RETURNS TO BE FILED IN THE EXISTING SYSTEM :
GSTR-1 - Sales return/outward supplies return (quarterly
for turnover < ` 1.5 cr.)
GSTR-3B - Summary return for sales and input tax credit
(monthly)
GSTR-2A - Purchase related tax return. Automatically gen-
erated by the GST portal
New form to be introduced :
GSTR-2B - to claim Input Tax GSTR-3B to be quarterly
Credit in GSTR-3B; to be auto for turnover < ` 5 cr.
generated based on GSTR-1
The earlier proposed GST simplified return system :
GST RET-1 - Contain details of all supplies made, input tax
credit availed, and payment of taxes, along with interest
Two annexures under GST RET-1 :
 ANX-1 - Annexure of outward supplies/sales
 ANX-2 - Annexure of inward supplies/purchase
 Quarterly filing for turnover < ` 5 crore

GST LAW TIMES  20th August 2020  36
( A68 )