VATupdate

Share this post on

Finance Ministry Aims to Introduce Pre-Filled GST Return Form to Resolve Data Mismatch Issue

  • The finance ministry aims to roll out pre-filled GST return forms before the next fiscal year.
  • This is expected to resolve the issue of data mismatches leading to tax notices.
  • The department is analyzing the additional cost of augmenting the digital infrastructure to prevent system slowdown or crashing.
  • The pre-filled GST returns will prevent mismatches and provide ease of doing business.
  • The Central Board of Direct Taxes has used a similar pre-filled template for income tax return forms.
  • The Central Board of Indirect Taxes and Customs is analyzing the technological requirements and cost impact.
  • A pilot will test the pre-filled GST return form and determine its effectiveness and time consumption.
  • GST Council approval is not needed to proceed with the pre-filled forms.

Source: a2ztaxcorp.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

Sponsors:

VAT news

Advertisements: