Bengaluru: The Goods and Services Tax Network (GSTN) has directed its software vendor Infosys to design new forms for filing returns by traders, said its Group of Ministers (GoM) Chairman Sushil Kumar Modi on Saturday. “We have directed Infosys to design new forms as suggested by the GST Council to simplify filing returns by traders on the network,” Modi told reporters here after the 10th meeting of the GoM, held here to review the working of the network. “We plan to roll out the new simplified GST returns to form in the next 4-6 months for the benefit of dealers or traders paying the indirect tax through the network,” said Modi, who is also Bihar Deputy Chief Minister.
The new forms will enable all businesses to file their annual returns with details of sales, purchases and input tax credit benefits in a consolidated format. Returns filed in the new forms (GSTR 9 and GSTR-3C) will enable the tax authority to detect evasion and false claims under the GST unlike in the current forms (GSTR 3B and GSTR-1), which do not have a provision to match invoices.
Last date for filing GSTR-1 has been extended up to October 31 and late fee waived off till then. “Infosys is developing a mobile app for field staff (tax inspectors) to verify accounts of traders during spot inspection and file reports with photos and location,” said Modi. The GoM has identified 18 companies across the country to develop a uniform accounting software for the smaller tax payers. “The new software will be given to all small traders to ensure uniformity in filing GST returns,” said Modi.
As decided by the GST Council, e-commerce firms will pay Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) with effect from October 1. The Union government on September 13 notified October 1 as the date for implementing the TDS and TCS provisions under Section 52 of the Central GST (CGST) Act. The e-commerce companies have to deduct TDS up to 1 per cent state GST and 1 per cent central GST on intra-state supplies of over Rs 2.5 lakh.
In the case of inter-state supplies of over Rs 2.5 lakh, the TDS will be 2 per cent of the integrated (state and central) GST. The Council had earlier deferred implementing the TDS and TCS after e-commerce players like Amazon, Flipkart and Myntra expressed concerns on compliance burden. (IANS)