Monthly GST filing will not be necessary after e-invoice system is in place: Finance secretarybusinessUpdated: Nov 19, 2020, 16:50 ISTIn a major relief to businesses, the government plans to do away with monthly filing of Goods and Services Tax (GST) returns after the electronic invoice (e-invoice) is fully operationalised, which will not only reduce compliance burden but also check tax evasion, finance secretary Ajay Bhushan Pandey said. “GSTR-1 and GSTR-3B will ultimately be phased out, once we fully operationalise the electronic invoice (e-invoice),” he said. In the normal course, the two GST returns (GSTRs) means 24 returns filed by GST registered entities every month. Once put into operation, both e-way bill system and filing of certain GST returns (GSTR) would be eventually be withdrawn, said Pandey, who is also the revenue secretary. “If an entity operates in 25 states, it has to file 50 returns per month, hence 600 monthly returns in a year,” Mani said.

Source: Hindustan Times November 19, 2020 11:08 UTC