GST Council to discuss returns’ forms on July 21

The format for annual returns and audits is likely to be approved by the GST Council at its meeting on July 21 and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion. The Goods and Services Tax (GST) was rolled out on July 1, 2017, and this is the first year when businesses will have to file annual returns (GSTR-9) for fiscal 2017-18 by December 31, 2018.PTI

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