GST Council may consider modification in monthly tax payment form for better input tax credit reporting

The  GST Council  is likely to consider modification in summary return and monthly tax payment form,  GSTR-3B , in its meeting next month, with a view to check fake  input tax credit  claims and expedite settlement of genuine ones, an official said.  According to officials, the modified form will provide clarity with regard to gross input tax credit ( ITC ) due to the…