Lately, the Government of India has released three new GST return forms namely Normal (RET-1), Sahaj (RET-2), Sugam (RET-3) for all the countrywide taxpayers. The government released these New GST Return forms with a view to ease the burden of GST Return.
These forms will be first implemented from 1st April 2019 on the pilot basis. Howsoever, these new forms will be compulsorily implemented from the month of July 2019 on all the taxpayers across the country.
This article covers the following topics:
The applicability of New GST Return Forms can be ascertained on the basis of below-mentioned points.
- In a case where the aggregate turnover of a taxpayer exceeds the threshold limit of Rs. 5 crores in the preceding fiscal year than the taxpayer is liable to file Normal monthly GST Return.
- In a case where the aggregate turnover of a taxpayer does not exceed Rs. 5 crore mark then such taxpayer has the option to file the GST Return quarterly or monthly. Furthermore, the taxpayer can choose Sahaj, Sugam, and Normal (Quarterly) on the basis of the transaction.
The following parameters can be the base for the comparison between New GST Return Forms Normal, Sahaj & Sugam:
|Parameters||Normal (Monthly)||Normal (Quarterly RET-1)||Sahaj (RET-2)||Sugam (RET-3)|
|Applicability||All the taxpayers making inward and outward supplies having more than 5 crores turnover*||All the taxpayer making inward and outward supplies having less than 5 crores turnover*||Taxpayers doing B2C supplies and Inward supplies attracting RCM having less than 5 crores turnover*||Individuals doing B2C+B2B supplies and Inward supplies attracting RCM having less than 5 crores turnover*|
|Input Tax Credit||Allowed for missing invoices||Allowed for missing invoices||Not allowed for missing invoices||Not admissible for missing invoices|
|Non Applicability||–||–||Sugam is not applicable on the e-commerce operators deducting TCS||Sugam is not applicable on the e-commerce operators deducting TCS|
|Other supplies||–||–||No other types of outward and inward supplies are allowed other than the supplies mentioned above||Other than the supplies stated above no other types of inward and outward supplies are allowed|
*There are certain exclusions also.
The government has introduced these forms to provide relief to the small business owner so that they can comply with GST procedures with ease.
In addition to this, we can determine that Sahaj form is applicable to the taxpayers dealing with B2C supplies and reverse charge supplies. However, Sugam forms are applicable to those taxpayers who are dealing with both B2B & B2C supplies along with reverse charge supplies. Furthermore, for both Sahaj and Sugam form, the input tax credit cannot be claimed for missing invoices.