NEW DELHI : Goods and Service Tax Network (GSTN), the company that processes GST returns, said Sunday that it has implemented monthly self-completed tax returns for businesses, making tax filing easier and improving compliance.
A GSTN statement said that auto-filled tax return forms showing the summary of monthly transactions (Form 3B) will be available from the October tax period onwards.
These forms will be available on the GSTN portal from November 12 onwards. The information of the monthly sales reported and the automatically generated tax credit statement will be reflected in the monthly return form 3B dealing with the transaction summary. The authorities want to link the information reported on monthly sales in GST return form 1 with the statement showing the summary of monthly operations (3B).
In a separate statement, GSTN said it has improved its IT systems to handle three lakhs of simultaneously logged in users, twice the traffic it used to handle before. The update has also allowed GSTN to scale up to five lakh of concurrently registered contributors, if necessary, the company said. “The GST ecosystem is future-proofed to deliver a seamless experience to taxpayers with its increased capacity even beyond current upload limits,” the statement said.
GSTN said that in September, there was a sudden spike in the filing of Form 3B due to the delay in filing returns from previous months, thus providing taxpayer relaxations in light of the pandemic.
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