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New GST Return Forms
New GST Return Forms Description
The CBIC along with GST Portal has introduced the proposed GSTR forms. If the news has to be believed the new GST Return Form will come into effect from 2nd quarter of F.Y. 2019-20.
2) What is the process of switching New GST Returns?
The new GST Returns can be switched by the taxpayer in the following manner:
- The taxpayer can switch from GST RET-1 to GST RET-2/GST RET-3 only once in an F.Y. at the beginning of any quarter
- From GST RET-3 to GST RET-2 can also be switched once in an FY at the beginning of any quarter
- From GST RET-2 (SAHAJ) to GST RET-1/GST RET-3 can be switched by the taxpayer more than once in an FY at the beginning of any quarter
- From GST RET-3 (SUGAM) to GST RET-1 (Normal) more than once in an FY at the beginning of any quarter
3) New GST Return Summarized Presentation
| S. No. | Particulars | Normal (GST RET-1) | SAHAJ (GST RET-2) | SUGAM (GST RET-3) |
|---|---|---|---|---|
| 1 | Return Period | Quarterly/Monthly | Quarterly | Quarterly |
| 2 | Aggregate Turnover | Applicable on the person who has more than 5 Crore INR aggregate turnover | Up to 5 Crore INR Optional | Up to 5 Crore INR Optional |
| 3 | Type of Outward Supply | |||
| B2B | Yes | No | Yes | |
| B2C | Yes | Yes | Yes | |
| Exports | Yes | No | No | |
| SEZ units | Yes | No | No | |
| Deemed Exports | Yes | No | No | |
| Supply to E-Com Operators | Yes | No | No | |
| Nil Rated, Exempted or Non-GST | Yes | Yes (without declaration) | Yes (without declaration) | |
| 4 | Type of Inward Supply | |||
| RCM | Yes | Yes | Yes | |
| Import of Services | Yes | No | No | |
| Import of Goods | Yes | No | No | |
| Import of Goods from SEZ | Yes | No | No | |
| 5 | The credit of Missing Invoices | Yes | No | No |
| 6 | ISD Credits | Yes | No | No |
| 7 | HSN Code | In case if the turnover is more than 5 Crores INR in case of exports, imports and SEZ supplies it is mandatory, otherwise it is optional | Mentioning HSN Code is Optional | Stating HSN Code is Optional |
| 8 | NIL Return by SMS | Yes | Yes | Yes |
4) New GST Return Forms and Annexure
| S. No. | Name | Description |
|---|---|---|
| 1 | FORM GST ANX-1 | Annexure Form stating sale and purchase attracting reverse charge |
| 2 | FORM GST ANX-2 | Purchase Annexure |
| 3 | FORM GST RET-1 | Monthly/Quarterly return |
| FORM GST RET-2 | Quarterly return | |
| FORM GST RET-3 | Quarterly return | |
| 4 | FORM GST ANX-1A | Amendment form for GST ANX-1 |
| 5 | FORM GST RET- 1A | Amendment form |
| FORM GST RET- 2A | ||
| FORM GST RET- 3A | ||
| 6 | FORM GST PMT-08 | Form to make self-assessed payment |
5) Return Prototype Functionality
GST Portal has introduced a prototype for New GST Returns. The main motive behind the introduction of this functionality is to help the taxpayer and consultants in learning and experiencing the New GST Return form. The taxpayer can also giver their feedbacks regarding the same on the GST Portal. It shall be noted that the New GST Return form prototype does not make any arithmetic computations but is only for the walk through.
6) Guide to Download New GST Return Form offline utility
Step-1: Open the GST Portal https://www.gst.gov.in/
Step-2: Click on the New Return Trial Menu available on the right-hand side of the menu-bar. Select Offline Tools for New Return from the drop-down bar.
Step-3: Once you select Offline Tools for New Return you will be redirected to a new page showing New GST Return offline tool.
Step-4: At the end of this page you will find Proceed to download offline utility button.
Step-5: After clicking on this button a new page will open showing the use, important notes and system requirements along with the Download button.
Step-6: Click on the Download button to use the GST New Return Offline utility.
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