New simplified GST return forms will be rolled out in the next fiscal year and will become applicable from 1 April 2019. The GST return forms Sahaj and Sugam would replace GSTR-3B (summary sales return form) and GSTR-1 (final sales returns form). Revenue secretary Ajay Bhushan Pandey has said that the government is confident of achieving the budgeted target for GST collection and that the refund process is being further streamlined to make it completely online and friendly for taxpayers.
As per available data, in the first eight months (April-November) of fiscal 2018-19 the government has collected over Rs 7.76 lakh crore as GST, whereas the budget for the year had estimated annual GST collection at Rs 13.48 lakh crore.
