As per the latest GST news update, The New GST Return System has been scrapped. Also, the existing returns will be continued with the below-mentioned changes.
GSTN – Upcoming changes/initiatives:-
- SMS based NIL Return filing for GSTR-3B and GSTR-1.
- Improvements in GSTR-2A to show the status of filing of GSTR-1 and GSTR-3B by the supplier.
- To show status of amendment of invoice with month of amendment.
- Providing detail of invoices considered for computation in table 8A of GSTR-9.
- Flow of ITC due to IGST paid on import from ICES to GST System.
- Linking GSTR-1 with GSTR-3B (for flow of liability). PDF mail of filled GSTR-3B.
- Linking GSTR-2A/2B & ICEGATE data with GSTR-3B for better ITC management.
- Delinking of credit/debit notes with invoices in GSTR-1
GSTN – Upcoming changes with Matching Tool/Reconciliation Features:-
- Matching Tool for comparison of system drafted purchase register and own purchase register.
- Facility to create Vendor Master /HSN masters on taxpayer dashboard.
- Communication of channel between buyer and supplier for missing invoices.
- Improvement of Comparison Table of liability and ITC.
The general direction of user experience improvement:-
- Enabling GSPs to do some more activities.
- Compilation of common errors and way around.
- Showing the status of the application after every stage of processing.
System computed PDF for liability in GSTR-3B
Challenges in ITC declaration using GSTR-2A:-
- Dynamic statement
- Has both uploaded and filed documents
- No system aid to determine available ITC
- Document sit in original tax period hence difficult in reconciliation
- Long time for downloading GSTR-2A
Introducing GSTR-2B:-
- Static Statement generated monthly
- PDF and Emailer
- Document-level ITC Available and Unavailable
- ITC summarization aligned with GSTR-3B
- Instant download of PDF, EXCEL
- Filter and Search options
- Advance search to view documents beyond 1000 record
Source: GSTN Tech