FinMin seeks industry views over changes in GSTR-3B form

New Delhi: The Finance Ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15.

The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs of the stakeholders.

"Accordingly, general public and the trade at large are hereby informed that a detailed Concept Paper on comprehensive changes in FORM GSTR-3B is enclosed. All members of trade/ stakeholders are requested to kindly furnish their views/comments/suggestions on the Concept Paper latest by 15th September 2022 at [email protected] so as to facilitate finalization of the matter, the ministry said.

Abhishek Jain, Tax Partner, KPMG in India, said GSTR-3B is a return form capturing the summary of outward and inward supplies for a particular month. The paper takes into consideration various suggestions of both taxpayers and administrators, including auto-population and amendment in GSTR 3B, Jain added.

AMRG & Associates Senior Partner Rajat Mohan said the proposed changes would facilitate ease of compliance for taxpayers and arrest revenue leakage for tax administrators.