Simplified GST return forms to be rolled out from April 1
New Delhi: The new simplified goods and services tax (GST) return forms will be rolled out from April 1, 2019, Revenue Secretary Ajay Bhushan Pandey said on Tuesday. He exuded confidence that the government will achieve the budgeted target for goods and services tax collection and said the revenue department is getting inputs about entities which are evading taxes.
In the first eight months (April-November) of the current fiscal, the government has mopped up over Rs 7.76 lakh crore from the goods and services tax. The 2018-19 budget had estimated annual goods and services tax 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. goods and services tax collection in November was Rs 97,637 crore.
Speaking to reporters on the sidelines of the Directorate of Revenue Intelligence (DRI) Foundation Day, the secretary said the refund process is being further streamlined to make it completely online and taxpayer friendly. When asked about the rollout of the simplified return forms, Pandey said, "we are targeting from April 1".
In July, the Central Board of Indirect Taxes and Customs (CBIC) had put up in public domain draft goods and services tax 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).
Pandey further said the next meeting of the GST Council, chaired by Union Finance Minister and comprising state counterparts, will be held this month.
On Monday the finance ministry said that Rs 91,149 crore has been issued so far to exporters as GST refunds, which are 93.77 per cent of total claims with the tax authorities. In a statement, the ministry said Rs 6,053 crore worth GST refund is still pending with the government and that is being "expeditiously processed".
"Total GST refunds to the tune of Rs 91,149 crore have been disposed by CBIC and state authorities out of the total refund claims of Rs 97,202 crore received so far. Thus, the disposal rate of 93.77 per cent has been achieved," the ministry said.
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