GST Council recommendation: Summary of New Procedure for Filling GST Return Dear Friends, From the very first day, Trade & Industry is demanding Simplification in GST return filing and Default of the seller in payment of tax should not be imposed on buyer. In an extremely welcome move, GST Council has accepted it and recommended the drastic changes in GST Return filing Procedure which is compiled for you as under: 1. Only one monthly Return for all dealers. 2. Quarterly Return for some dealers like Composition dealer, NIL return. 3. No auto reversal of credit in case of non-payment by supplier and recovery of default from supplier except in few cases reversal to be imposed on buyer. 4. ITC based on supplier’s Invoice. 5. To be implemented as under: i) 1st Phase: Present System of return filing will continue till Oct., 2018. ii) 2nd Phase: New Return form to be introduced with the facility to claim ITC on provisional basis by buyer till next ...