New GST return system to be introduced

13, Jun 2019

Prelims level : Mains level :
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CONTEXT:

  • The GST Council has decided to introduce a new GST return system to facilitate taxpayers.
  • A plan has been worked out to ease the transition to the new return system.
  • There are 3 main components to the new return – one main return (FORM GST RET-1) and two annexures (FORM GST ANX-1 and FORM GST ANX-2).
  • A prototype of the offline tool has already been shared on the common portal.
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