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GST monthly returns to be made mandatory

Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

The stakeholders have been given time till tomorrow to give their comments on the two draft rules which, along with other rules, will be finalised at the second meeting of the Goods and Services Tax (GST) Council on September 30.

The Central Board of Excise and Customs (CBEC) yesterday unveiled three draft rules and their formats relating to registration, invoice and payments for public comments, reports PTI.

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