CS Advocate Abhishek Goyal
Yes, you have read the title correctly. GST is ever evolving law both procedure-wise and law-wise. It is undergoing frequent and consistent changes almost after every single GST council meet. The recent example is 47th GST council meet, in compliance of which the CBIC has issued various circulars and notifications in the first week of July not to speak of the changes in rate structure and the most talked about levy of GST on prepacked commodities.
The latest development in this connection is the concept paper issued and hosted by CBIC on their official website inviting suggestions and comments of all stakeholders on or before 15.09.2022. The concept paper is based on recommended changes to GSTR-3B based on recommendations of GST Council keeping in view the discussions held therein.
The concept paper seeks to bring in wholesale changes to GSTR-3B and also incorporates an annexure of the proposed format of GSTR-3B along with instructions to understand modalities therein.
A detailed explanation of the said concept paper and proposed comprehensive changes in GSTR-3B are discussed and presented in my youtube video.
It is important to understand these changes which will present GSTR-3B in new avatar altogether and will convert routine filing of GSTR-3B into a comprehensive filing.
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