Important changes which have been proposed in the GST returns in order to make it more user friendly and to further simplify the return filing process, has been summarized below:
Changes In GSTR-1
- Delinking of credit/debit notes with the original invoice;
- Amendments in GSTR-1 will be tagged with original invoices to ensure there are no double accounting entries;
- To reflect the status of amendment of the invoice along with the month of the amendment.
Changes In GSTR-2A & GSTR-2B
- To reflect return (GSTR-1 and GSTR-3B) filing status of vendors in GSTR-2A;
- To generate Static GSTR-2A on monthly basis along with the document-level classification of ITC available and ITC not available;
- GSTR-2B referred to as auto-drafted ITC statement to provide advice on credit that can be availed, credit to be reversed, etc. will be introduced soon;
- Option of downloading GSTR-2B in PDF and Excel format.
Changes In GSTR-3B
- To link GSTR-2A/2B and ICEGATE data with GSTR-3B;
- To link GSTR-1 with GSTR-3B;
- To develop a facility of sending copy of filed GSTR-3B in PDF format over an E-mail.
Changes In GST Refunds
- Auto-population of data in the refund applications based on data furnished in GSTR-1 and as per GSTR-2A would be enabled;
- Facility for bunching of refund claims across financial years, status of processing of refund claims at every stage would be made available.
- GSTR-6A would be available for download;
- Details of invoices considered for preparation of Table 8A of GSTR-9 will be provided;
- To implement E-invoicing facility for companies with a turnover of more than INR 500 crores from October 2020;
- To introduce a matching tool for comparison of system drafted purchase register and own purchase register;
- To develop a communication channel between the buyer and supplier for missing invoices;
- Facility to create vendor master / HSN master on taxpayer dashboard.
Disclaimer: The above update is on the basis of information received from the governmental authorities, tweets, and information available on the public domain. Official notifications are yet to be announced.