Simplified return process approved, small taxpayers to file quarterly return
New Delhi, July 21 : The GST Council on Saturday approved a new simplified return filing process under which all taxpayers will have to file a maximum of one monthly tax return.
Moreover, small taxpayers with a turnover less than Rs 5 crore will have the option of filing only one return every quarter in a simplified return format, although the tax will have to be paid on a monthly basis.
"Nil return filers (no purchase and no sale) shall be given facility to file return by sending SMS," the government said in a statement.
After the GST Council meeting, Finance Minister Piyush Goyal told the media that 93 per cent of the taxpayers have a turnover of less than Rs 5 crore and these taxpayers would benefit substantially from the simplification measures proposed.
The council in its last meeting had approved the basic principles of GST return design and directed the law committee to finalize the return formats and changes in law.
The government said that after Saturday's changes, the return forms would also become simple with two main tables: one for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier.
"Invoices can be uploaded continuously by the seller and can be continuously viewed and locked by the buyer for availing input tax credit. This process would ensure that very large part of the return is automatically filled based on the invoices uploaded by the buyer and the seller," the statement said.
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Cong govt ended ‘darkness’ in 11 months of rule in T’gana: CM Revanth Reddy rebuts PM Modi's remark
Hyderabad (PTI): During the last 11 months, the Congress government in Telangana has reversed an air of gloom and despair under the previous BRS regime and ended the "darkness", Chief Minister A Revanth Reddy said on Saturday.
He was responding to a post by Prime Minister Narendra Modi that under Congress rule developmental trajectory and fiscal health is turning from bad to worse in Himachal Pradesh, Karnataka and Telangana.
“I am happy to clarify several misconceptions and factual errors in your statements about my state and our government," Reddy said in his post.
Prime Minister Narendra Modi Friday in a series of posts said the Congress stands "badly exposed" in front of people for promising to them what the party knows it will never be able to deliver.
“Every promise made by us to people is a sacred commitment for us. In the last 11 months, we have reversed an air of gloom & despair under BRS, and ended the darkness. Like a morning sun, Telangana is now Rising,” Reddy said in the post addressed to Modi.
Within two days of taking charge, the Telangana government fulfilled its first and second promise - free bus travel for women across all government buses, and a healthcare and hospitalisation cover of 10 lakhs under Rajiv Aarogyasree, the CM pointed out.
Even before completion of first year of rule, the Congress government has implemented India's largest ever, state-level farmer loan waiver of Rs 18,000 crore covering over 22 lakh farmers, he said responding to PM’s comments that in Telangana, farmers are awaiting the (loan) waiver they were promised.
Women get free electricity, with no domestic power charge for their homes up to 200 units, Reddy noted.
The CM also claimed that his government has held the largest recruitment drive and is regularly holding exams of all levels and provided jobs to over 50,000 eligible youth, a record “unmatched by any BJP state government.”
The CM said the government is rejuvenating River Musi, which was allegedly neglected by the previous government and protecting lakes and other precious water bodies, encroached upon and destroyed wantonly with abandon in the last 10 years.
