India Planning to Simplify VAT Returns

According to recent reports, India's Goods and Services Tax (GST) Council is planning changes to simplify the return process for the countries GST regime. Currently, taxpayers are generally required to submit GST returns in a three-step process that includes the submission of a return on outward supplies (GSTR-1), followed by a return on inward supplies (GSTR-2), and then a final return (GSTR-3) to reconcile the two and determine the final amount of GST due (or refund). Given the difficulties…