With effect from 01st January, 2021 the new GST returns regime will be rolled out. Pursuant to the central government’s constant jostling with adverse, trying and demanding economic situations, an effort is being made to provide the small taxpayers some breathing space and easing the compliance burden, quarterly GSTR-3B filing is being implemented from 1st January, 2021 the seeds whereof were sown back in the Finance Act, 2019 when section 39 was proposed to be amended. The government vide numerous notifications on 10th November, 2020 brought into effect its intention to provide the much sought leeway, although in curtailed manner as the tax is still to be paid monthly, in GST compliance to the taxpayers by taking slew of measures the gist
Source Taxguru
