New GST return filing system announced!
New GST return filing system from April 01 System shall be mandatory basis from July 01, 2019 The GST Council in its 31st meeting held at New Delhi made the related policy recommendations. There would be a single cash ledger for each tax head. The modalities for implementation would be finalised in consultation with GSTN and the Accounting authorities. A scheme of single authority for disbursement of the refund amount sanctioned by either the Centre or the State tax authorities would be implemented on pilot basis. The modalities for the same shall be finalized shortly. The new return filing system shall be introduced on a trial basis from 01.04.2019 and on mandatory basis from 01.07.2019. The due date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 shall be further extended till 30.06.2019. The following clarificatory changes, inter-alia, shall be carried out in