The government is considering allowing filing of updated or revised returns under the goods and services tax (GST), a move expected to benefit taxpayers and also bring down litigation under the indirect tax regime. As per the proposal, taxpayers will be able to rectify their returns including computation of tax, ET has learnt. “We are looking at allowing updated returns under GST,” a senior official told ET. At present, there is no provision for filing revised returns under GST, barring minor corrections in the invoice details uploaded on the portal. It would take at least 8-9 months post GST Council approval for implementation as it would require a significant upgrade of the GST Network.

Source: Economic Times December 26, 2023 13:13 UTC