https://www.taxtmi.com/article/detailed?id=8138 The proposals replace existing GST returns with simplified GST forms and a modular single-return system permitting business-specific modules, reducing filing frequency to a single monthly return for most taxpayers with quarterly options for certain categories. Sellers may upload invoices in a unidirectional manner, enabling automated invoice-wise tax liability calculation and continuous buyer visibility; automatic reversal of input tax credit is prohibited, with online recovery, blocking of defaulting suppliers, and staged transition from legacy returns to full deployment of the new forms. en-us Sat, 25 Aug 2018 06:07:44 +0530 Sat, 25 Aug 2018 06:07:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8138 The proposals replace existing GST returns with simplified GST forms and a modular single-return system permitting business-specific modules, reducing filing frequency to a single monthly return for most taxpayers with quarterly options for certain categories. Sellers may upload invoices in a unidirectional manner, enabling automated invoice-wise tax liability calculation and continuous buyer visibility; automatic reversal of input tax credit is prohibited, with online recovery, blocking of defaulting suppliers, and staged transition from legacy returns to full deployment of the new forms. Articles Other Topics Sat, 25 Aug 2018 06:07:44 +0530 https://www.taxtmi.com/article/detailed?id=8138