To mark two years of GST implementation, the Finance Ministry will on Monday unveil a new return filing mechanism besides a host of other reforms to simplify the indirect tax system. Ever since GST came into effect from July 1, 2017, the government has faced flak from the Opposition over its chaotic implementation and complexities. AdvertisingBesides a new return mechanism, rationalisation of cash ledger system and a single refund-disbursing mechanism are the other reforms likely to be implemented. The event will be chaired by Minister of State for Finance and Corporate Affairs Anurag Thakur with other key secretaries and officials from various departments present alongside, the Finance Ministry said in a statement. The ministry said it will introduce the new return system on a trial basis from July 1 and on mandatory basis from October 1.

Source: Indian Express June 30, 2019 10:30 UTC