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GSTN to create messaging platform for buyers, sellers

About 22.73% of GST assessees with nil turnover will only need to send an SMS to GSTN to complete their compliance and then confirm it with a one-time password.

ET Bureau|
Oct 01, 2019, 11.30 PM IST
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Agencies
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The new return form will have the facility for auto population of key details in returns and capture harmonised system of nomenclature (HSN) at invoice level.
New Delhi: The Goods and Services Tax Network will create a special facility to allow buyers and sellers to converse with each other after the new simplified GST return system is rolled out on April 1 next year.

With the new return system in place, about 22.73% of GST assessees with nil turnover will only need to send an SMS to GSTN to complete their compliance and then confirm it with a one-time password. “We will provide a messaging platform that will allow buyers and sellers to talks to each other,” Prakash Kumar, CEO at GSTN, said.

He said it could also be developed into an SMS facility that will allow businesses to settle issues related to invoices expeditiously. A little over 7% of registered GST taxpayers, reporting a turnover of over Rs 5 crore and contributing 85% of the tax revenues, will have to file quarterly returns.

The new return form will have the facility for auto population of key details in returns and capture harmonised system of nomenclature (HSN) at invoice level. It will check the issue of fake invoices as assessees will have to pay tax on the basis of what is filed in the ANX-1(annexure one).
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