by CA Puneet Bansal
With an aim to simplify GST compliances and bring sanity in the process of input tax credit availed and utilized by the recipient, GST Council approved the new formats of GST returns along with the credit matching process. In the 35 th Council Meeting (held on June 21, 2019), GST Council decided to give ample opportunity to taxpayers as well as the government’s IT system to adapt and introduce the new return system in the following phases:
|Sl No||Form||Applicability||Starting from|
|1||GST ANX – 1||Large & Small Taxpayers||October 2019|
|2||GST RET – 1||Large Taxpayers||December 2019|
|3||GST RET – 2 & 3||Small Taxpayers||October to December 2019|
|4||GST PMT – 08||Small Taxpayers||October 2019|
* For S.No. 2, Large taxpayers shall continue to file GSTR – 3B for the month of October and November 2019.
CA Puneet Bansal, has over 20 years of experience in advising leading Multinational and Indian companies in
setting up operations in India, structuring business models and supply chain,
optimizing tax exposures and contract reviews from the perspective of Indirect tax
Puneet has a rich experience in litigation and has successfully represented clients' interests before various judicial fora across India.
Puneet regularly addresses seminars/ workshops across India on diverse Indirect Tax issues. He actively contributes articles on emerging controversies on renowned tax portals.
Prior to starting NITYA, Puneet was a Partner with BMR & Associates LLP and Lakshmikumaran & Sridharan in their Indirect Tax practice.
Puneet is a member of the Institute of Chartered Accountants of India, having held All India merit position in CA Final. He also holds Bachelor’s degrees in Commerce and Law.