https://www.taxtmi.com/article/detailed?id=7999 The Council recommended a simplified return design with monthly filing for most taxpayers and quarterly filing for composition and nil filers; seller-uploaded invoices will enable buyer visibility and automated ITC calculation without purchase invoice uploads. Automatic reversal of ITC for seller non-payment was disallowed; recoveries or reversals must follow an online notice-and-order process. A three-stage transition (current system, invoice-wise self-declaration, then ITC limited to seller-uploaded invoices) was proposed, with GSTR-1 and GSTR-3B retained for six months and legal and IT changes to be finalized by the law committee. en-us Sat, 12 May 2018 07:40:24 +0530 Sat, 12 May 2018 07:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7999 The Council recommended a simplified return design with monthly filing for most taxpayers and quarterly filing for composition and nil filers; seller-uploaded invoices will enable buyer visibility and automated ITC calculation without purchase invoice uploads. Automatic reversal of ITC for seller non-payment was disallowed; recoveries or reversals must follow an online notice-and-order process. A three-stage transition (current system, invoice-wise self-declaration, then ITC limited to seller-uploaded invoices) was proposed, with GSTR-1 and GSTR-3B retained for six months and legal and IT changes to be finalized by the law committee. Articles Goods and Services Tax - GST Sat, 12 May 2018 07:40:24 +0530 https://www.taxtmi.com/article/detailed?id=7999