CBIC has uploaded the amended/ simplified GST Return forms on the GST Portal, i.e. Normal (RET 1), Sahaj (RET 2) and Sugam (RET 3), which are likely to be applicable from 1 July 2019 (2nd quarter of FY 2019-20), in view of the fact that CBIC has already notified the existing GST return forms for the first quarter of FY 2019-20.
Taxpayer shall be able to declare all types of outward supplies, inward supplies and take credit on missing invoices. Normal Return in Form GST RET 1 can be filed monthly or quarterly (i.e. Monthly Normal/ Quarterly Normal) as may be opted for.
Taxpayer shall be able to declare Outward supply under B2C category and inward supplies attracting reverse charge only. Sahaj Return in Form GST RET 2 can be filed Quarterly only.
Taxpayer shall be able to declare the Outward supply under B2C and B2B category and inward supplies attracting reverse charge only. However, he shall not be allowed to take credit on missing invoices and shall not be allowed to make any other type of inward or outward supplies.
The new GSTR forms are designed to simplify the process of filing GST especially in case of smaller businesses that have annual turnover of up to Rs. 5 Crore. After introduction of the three new forms – GSTR Normal, GSTR Sugam and GSTR Saral, registered individuals/businesses will no longer need to file GSTR 1, GSTR 2 and GSTR 3 separately. The old GSTR 1 form was the primary form for submission of GST Returns while the GSTR 2 Form is a purchase return and the GSTR 3 Form is an input-output return form. The GSTR 2 and GSTR 3 are complicated forms and no longer need to be submitted after introduction of the new GSTR forms – Normal, Sahaj and Sugam.
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