NEW DELHI: The GST Network (GSTN) has rolled out a form for manufacturers of pan masala and tobacco products to report inputs and outputs procured with tax authorities to check evasion.
This new form GST SRM-II came within a month of GSTN rolling out form GST SRM-I for registering machines of such manufacturers.
Moore Singhi executive director Rajat Mohan said the newly available Form GST SRM-II requires detailed monthly reporting of inputs and outputs.
Taxpayers are advised to familiarise themselves with the details and instructions provided in these forms to ensure seamless compliance and avoid potential penalties, he added. In January, CBIC announced introduction of a new registration and monthly return filing procedure to improve Goods and Services Tax compliance for manufacturers of pan masala and tobacco products effective April 1.
The date was later extended to May 15. The move to overhaul the registration, record-keeping, and monthly filing of such businesses was aimed at improving GST compliance for manufacturers of pan masala and tobacco products.