Article explains about Types of NEW GST Return Forms which will be applicable from 01.04.2020 which includes GST RET-1- NORMAL RETURN (Monthly, Quarterly), GST RET-2- SAHAJ RETURN (Quarterly), GST RET-3 SUGAM RETURN (Quarterly), GST RET-1A- Amendment to Form GST RET-1, GST RET-2A -Amendment to Form GST RET-2 and GST RET-3A -Amendment to Form GST RET-3 with Annexure Form GST ANX-1 Annexure of outward supplies, imports and inward supplies attracting reverse charge, GST ANX-2 Annexure of inward supplies and GST ANX-1A Amendment to Form GST ANX-1.
TYPES OF FORMS
| ANNEXURE FORM | PARTICULARS |
| GST ANX-1 | Annexure of outward supplies, imports and inward supplies attracting reverse charge |
| GST ANX-2 | Annexure of inward supplies |
| GST ANX-1A | Amendment to Form GST ANX-1 |
–
| RETURNS FORM
|
PARTICULARS |
| GST RET-1 | NORMAL RETURN(Monthly, Quarterly) |
| GST RET-2 | SAHAJ RETURN (Quarterly) |
| GST RET-3 | SUGAM RETURN (Quarterly) |
| GST RET-1A | Amendment to Form GST RET-1 |
| GST RET-2A | Amendment to Form GST RET-2 |
| GST RET-3A | Amendment to Form GST RET-3 |
–
| CHALLAN FORM | PARTICULARS |
| GST PMT-08 | Payment of Self-assessed tax |
SUMMARY OF NEW GST RETURNS FORM
| S. No.
1. |
Particulars | Normal (GST RET-1) | Sahaj (GST RET-2) | Sugam (GST RET-3) |
| Periodicity of Return | Quarterly or monthly | Quarterly | Quarterly | |
| 2. | Aggregate Turnover | More than 5 Crore-mandatory, Up to 5 Crore -optional | Up to 5 Crore-Optional | Up to 5 Crore-Optional |
| 3. | Type of Outward Supply | |||
| -B2B | Yes | No | Yes | |
| -B2C | Yes | Yes | Yes | |
| -Exports | Yes | No | No | |
| -SEZ units/developers | Yes | No | No | |
| -Deemed Exports | Yes | No | No | |
| -Supply to E-Commerce Operators | Yes | No | No | |
| -Nil Rated, Exempted or Non-GST | Yes | Yes(even without declaration) | Yes(even without declaration) | |
| 4. | Type of Inward Supply | |||
| -RCM | Yes | Yes | Yes | |
| -Import of Services | Yes | No | No | |
| -Import of Goods | Yes | No | No | |
| S. No. | Particulars | Normal (GST RET-1) | Sahaj (GST RET-2) | Sugam (GST RET-3) |
| -Import of Goods from SEZ | Yes | No | No | |
| 5. | The credit of Missing Invoices Available | Yes | No | No |
| 6. | ISD Credits Received | Yes | No | No |
| 7. | HSN Code (6 Digits) on the basis of Annual Aggregate Turnover | T/o > 5 crores, in relation to exports, imports and SEZ supplies, mandatory; T/o <5 crore or equals to 5 crores then optional. | Optional | Optional |
| 8. | NIL Return by SMS | Yes | Yes | Yes |
POINTS TO REMEMBER
1. Periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for.
2. For newly registered taxpayers, turnover will be considered as zero and hence they will have the option to file monthly, Sahaj, Sugam or Quarterly (Normal) return.
3. Change in periodicity of the return filing (from quarterly to monthly and vice versa) would be allowed only once at the time of filing the first return by a taxpayer.
4. The periodicity of the return filing will remain unchanged during the next financial year unless changed before filing the first return of that year.
5. The taxpayers opting to file quarterly return can choose to file any of the quarterly return namely – Sahaj, Sugam or Quarterly (Normal).
6. Taxpayers filing return as Quarterly (Normal) can switch over to Sugam or Sahaj return and taxpayers filing return as Sugam can switch over to Sahaj return only once in a financial year at the beginning of any quarter.
7. Taxpayers filing return as Sahaj can switch over to Sugam or Quarterly (Normal) return and taxpayers filing return as Sugam can switch over to Quarterly (Normal) return,,,, more than once in a financial year at the beginning of any quarter.
8. Taxpayers opting to file quarterly return as ‘Sahaj’ shall be allowed to declare outward supply under B2C category and inward supplies attracting reverse charge only. Such taxpayers cannot make supplies through e-commerce operators on which tax is required to be collected under section 52. Such tax payers shall not take credit on missing invoices and shall not be allowed to make any other type of inward or outward supplies. However, such taxpayers may make Nil rated, exempted or Non-GST supplies which need not be declared in the said return.
9. Taxpayers opting to file quarterly return as ‘Sugam’ shall be allowed to declare outward supply under B2C and B2B category and inward supplies attracting reverse charge only. Such taxpayers cannot make supplies through e-commerce operators on which tax is required to be collected under section 52. Such tax payers shall not take credit on missing invoices and shall not be allowed to make any other type of inward or outward supplies. However, such taxpayers may makeNil rated, exempted or Non-GST supplies which need not be declared in said return.
10. Taxpayers opting to file monthly return or Quarterly (Normal) return shall be able to declare all types of outward supplies, inward supplies and take credit on missing invoices.
FORM GST ANX-1
| TABLE NO.
1 |
PARTICULARS |
| GSTIN | |
| 2a | Legal name of the registered person |
| 2b | Trade name, if any |
| 2c | ARN |
| 2d | Date of filing |
| 3A | B2C supply |
| 3B | B2B supply |
| 3C | Exports with payment of tax |
| 3D | Exports without payment of tax |
| 3E | Supply to SEZ units / developers with payment of tax |
| 3F | |
| supply to SEZ units / developers without payment of tax | |
| 3G | Deemed exports |
| 3H | Inward supplies attracting reverse charge |
| 3I | Import of services |
| 3J | Import of goods |
| 3K | Imported goods from SEZ units / developer on Bill of Entry |
| 3L | Credit on missing invoices |
| 4 | Details of the supplies made through e-commerce operators liable to collect tax
under section 52 (out of any outward supplies declared in table 3) |
INSTRUCTIONS (FORM GST ANX-1)
1) Registered person can upload the details of documents any time during a month/quarter to which it pertains or of any prior period but not later than the due date for furnishing of return for the month of September or second quarter following the end of the financial year to which such details pertains or the actual date of furnishing of relevant annual return whichever is earlier except that –
(i) the taxpayer filing the return on monthly basis will not be able to upload the details of documents from 18th to 20th of the month following the tax period.
Example : Tax Period : April 2020
Due Date of RET-1 : 20th May 2020
Uploading in ANX-1 available Before 18th May and after 20th May
ii) the taxpayer filing the return on quarterly basis will not be able to upload the details of documents from 23rd to 25th of the month following the quarter.
Example : Tax Period : April-June 2020
Due Date of RET-1 ,RET-2,RET-3: 25th July 2020
Uploading in ANX-1 available Before 23rd July and after 25th July
2) Advances received on account of supply of services shall not be reported here. The same shall be reported in Table 3C(3) and adjustment thereof shall be reported in table 3C(4) of FORM GST RET-1.
3) Recipient will get credit during a tax period on the basis of the details of documents uploaded by the supplier upto the 10th of the month following the month for which the return is being filed for
Example : Tax Period : April 2020
Due Date of RET-1 : 20th May 2020
Can Take credit of all documents shown in ANX-2 upto 10th May 2020
Example : Tax Period : April-June 2020
Due Date of RET-1 ,RET-2,RET-3: 25th July 2020
Can Take credit of all documents shown in ANX-2 upto 10th July 2020
4) Supplies attracting reverse charge will be reported only by the recipient
5) Tax amount shall be computed by the system based on the taxable value and tax rate. The tax amount so computed will not be editable except by way of issue of debit / credit notes. However, the tax amount under cess will be reported by the taxpayer himself.
6) Editing of documents upto the 10th of the following month :
Details of the documents uploaded upto the 10th of the following month may be edited by the supplier upto the said date (10th of the following month) only if such documents are not accepted by the recipient If a document has already been accepted (upto the 10th) by the recipient, then such document has to be reset / unlocked by the recipient
7) Documents rejected by the recipient shall be conveyed to the supplier only after filing of the return by the recipient.
The rejected documents may be edited before filing any subsequent return for any month or quarter by the supplier
TABLE 3L
The recipient shall provide Document wise details of the supplies for which credit has been claimed but the details of supplies are yet to be uploaded by the supplier(s) concerned as detailed below:
(i) Where the supplier has failed to report the supplies after a lapse of two tax periods in case of monthly return filers and after a lapse of one tax period in case of quarterly return filers.
(ii) Where the supplier uploads the invoice subsequently (after reporting in this table by the recipient), then such credit has to be reversed by the recipient in table 4B(3) of the main return (FORM GST RET-1) as this credit cannot be availed twice.
For example –Supply made in: April 2020
Supplier not reported in ANX-1 till 10th May 2020
Credit of this Input tax is claimed through Table 4A(10)
If Supplier is not uploaded the invoice in ANX-1 of April, May, June till 10th July then Receiver will reported in this Table in his own GST ANX-1 of June 2020
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