The export community has consistently faced issues with GST and to make life easier, the Government has proposed simplification in the new return filing process.
The entire return filing process is supposed to undergo a change with only one monthly return for taxpayers. Return filing dates will also be staggered based on the turnover of the taxpayer which will be calculated based on the reported turnover in the last year, which is 2017-18, annualized for the full year. It will be possible for the taxpayer to check on the common portal whether he falls in the category of a small taxpayer and a newly registered taxpayer will be classified on the basis of self-declaration of the estimated turnover. The due date for filing of return by a large taxpayer shall be 20th of the next month.
For the export community, come specific changes have been proposed. The table for export of goods in return would contain details of the Shipping Bill (S/B) also. The registered person can either fill this information at the time of filing the return or after filing the return at his option.
Filing the details of the Shipping bill in the return at a later date will not be considered as filing of an amendment return. A separate facility for uploading shipping bill details at a later date will be provided to the exporters.
Once the information of S/B is completed, the entire data will be transmitted to the ICEGATE (IT system of Customs administration). Subsequent amendments in export/Shipping Bill table will also be carried out through a separate facility on the common portal and not through the process of filing of amendment return. There would thus be a special facility for the exporters.
Till data starts flowing online from ICEGATE or SEZ online in the input tax credit of the return, credit on imports and supplies from SEZ will be availed on self-declaration basis.
The current system has faced issues and created delays in refunds for exporters. One of the reasons for delay can be attributed to data- transmission gaps between GSTN and Customs EDI system. Others included mismatches in the amount of IGST paid on export goods between GSTR-1 and GSTR-3B as declared by taxpayers.
The new features will also come along with the function of profiling the taxpayer. There are many kinds of supplies which can be made under GST and also there are many types of inputs using which input tax credit can be availed.
Most of the taxpayers have only a few types of supplies to make and few types of inputs to report. Therefore, a questionnaire will be used to profile the taxpayer and only such part of return will be shown to him which is relevant to his profile. For example, an exporter would be asked questions regarding his trade and based on it, only the parts that an exporter needs to fill will be shown in the return form.
To liquidate pending GST refunds, the Central Board of Indirect Taxes and Customs (CBIC) has recently concluded the third refund fortnight from July 16, 2018 to July 31, 2018. Till July 31, 2018, the total GST refunds disposed by Centre and States were to the tune of Rs 54,378 crore. The Government on its part has asked exporters to ensure that the correct procedure of filing returns, give accurate information in Shipping Bill and submit RFD01A application forms to the jurisdictional formations to ensure quick disbursal of their GST refund claims.