The previous GST Council meeting approved the simplified process and format for GST returns. The new GST returns are now released for stakeholder feedback and comments. Here are key highlights of the new GST returns and process.
Eway Bill, which came into effect from 1st April, is to be generated for all movement of goods and covers goods being exported and imported. Let us now look at the export transactions
The 28th GST council meeting was held on 21 July 2018. In the meeting, the new return formats and process were approved. Single monthly return for most of the taxpayers will be a reality.
Eway Bill rules are now effective across the country for movement of goods subject to the conditions specified. There are certain import transactions where Eway Bill is to be generated.
Read more to know how the businesses who have taken registrations as Input Service Distributors (ISD) need to distribute the ITC credit and comply with GSTR 6 requirements.