India postpones simplified GST returns
- Apr 20, 2019 | Richard Asquith
India has delayed the roll out this month of the new, simplified Goods and Services Tax returns. This is due to ongoing technical developments. There is no indication yet of when the new submissions will come into place.
The new Sahaj and Sugam forms will replace the existing GSTR-3B (summary sales return form) and GSTR-1 (final sales returns form). The new system of Indian monthly returns will be much simpler, and the government hopes it will increase compliance and bring down misuse in availing of input tax credit. Under the new return filing format, taxpayers who have no purchases, no output tax liability and no input tax credit in any quarter of the financial year would have to file one 'Nil' return for the entire quarter.
India introduced GST in July 2017, consolidating numerous and complex consumption taxes.