New simplified GST return from April 1, 2019
Source :NewsBharati   Date :04-Dec-2018







New Delhi, Dec4
: Revenue Secretary Ajay Bhushan Pandey showed confidence that the government will achieve the budgeted target for Goods and Services Tax (GST) collection. The new simplified GST return forms will be rolled out from April 1, 2019.

The Central Board of Indirect Taxes and Customs (CBIC) had put up in public domain draft GST return forms 'Sahaj' and 'Sugam' and sought public comments. These forms would replace GSTR-3B (summary sales return form) and GSTR-1 (final sales returns form).

The 2018-19 budget had estimated annual GST collection at Rs 13.48 lakh crore, which means a monthly target of Rs 1.12 lakh crore.

"We are short by Rs 4,000 crore this month (November). To arrive at any conclusion we have to have some more months' data. But we are confident that we will be able to achieve our target. Our monthly target is around Rs 1 lakh crore. This we want to increase to Rs 1.10 lakh crore," Pandey said. GST collection in November was Rs 97,637 crore