Help The Kashmir Monitor sustain so that we continue to be editorially independent. Remember, your contributions, however small they may be, matter to us.

Target to roll out new GST forms by Jan 1: Adhia

AD 1

By Agencies
New Delhi :The new GST return forms would be introduced from January 1 after successful beta-testing of the software, Finance Secretary Hasmukh Adhia said.
He said wrong input tax credit claims are a potential area of evasion in the Goods and Services Tax (GST) regime and one-to-one invoice matching is the key to checking evasion.
On scope for rationalisation in the highest tax bracket of 28 per cent, Adhia, at an event, said reducing the number of items in the tax slab would depend on revenue position of the government.
To a question on how soon the new return filing system would be implemented, Adhia said the target is to roll it out within 6 months. “I would like it to go through a trial run. So we will sort of put it in a pilot in beta version and we will ask some people to test. We will do it sometime between October-December. By January 1 it should be implemented,” Adhia said.