New GST return forms released; compliance process simplified from April 1

Under the new format, invoices can be reported on a continuous basis

The goods and services tax (GST) network released the revised return forms which businesses would need to comply with from this year. The new forms would be operated on a pilot basis from April 1, 2019, and would be mandated across the country from July, according to the decisions of the GST Council.

The new and revised return format would obviate the need to furnish returns under the family of GSTR-1, GSTR-2 and GSTR-3, but the annual return GSTR-9 might continue, experts said.

The GST Council had suspended GSTR-2, a purchase return, and GSTR-3, input-output return, because of the complex form structure.