New GST Returns.
1. Firstly if the Turnover during the preceding financial year is more than Rs. 5 Crores, then the assessee by default has to file monthly returns.
2. If the Turnover is less than Rs 5 crores then the assessee has an option available to choose Monthly or Quarterly Returns.
3. If you have chosen quarterly option, then you will have a choice to opt for Normal, Sahaj or Sugam.
4. There are three types of Returns.
| Sugam Return -“GST RET – 3” | B2C supply only
Nil rated, exempted or Non-GST supply allowed Supply Not Allowed through E- Commerce operator Cannot take ITC on missing invoices |
Quarterly Filing
Note: Eligible for filing quarterly return if newly registered for GST or aggregate annual turnover was less than Rs.5 crores in the previous financial year |
| Sahaj Return “GST RET – 2” | B2B or B2C supply only
Need not reported nil rated, exempted or Non-GST supply allowed Supply not allowed through E -Commerce operator Cannot take ITC on missing invoices |
Quarterly Filing
Note: Eligible for filing quarterly return if newly registered for GST or aggregate annual turnover was less than Rs.5 crores in the previous financial year |
| Normal Return “ GST RET-1” | Any type of supply (including Exports, Imports, Supplies to SEZ units and deemed exports)
Supply allowed through E-Commerce operator Can take ITC on missing invoices HSN Code (6 Digits) is Compulsory a) for Organisation having turnover of more than 5 crore b) in relation to exports, imports and SEZ supplies even if turnover is less than 5 crore |
Quarterly or Monthly Filing
Note: Eligible for filing quarterly return if newly registered for GST or aggregate annual turnover was less than Rs.5 crores in the previous financial year . |
Annexure to be filed on monthly basis even if return is chosen quarterly
GST Anx – 1 ( equivalent to GSTR1)- all the outward supplies and inward supplies attracting reverse charge) has to be filed on monthly basis.
GST PMT 08- Tax must be paid on monthly basis even if return is chosen quarterly
Other Annexures
GST Anx-2 (equivalent to GSTR 2 )-all the Inward supplies will be auto-populated from supplier GST Anx-1
FORM GST ANX- 1A – Amendment to FORM GST ANX-1
FORM GST RET-1A/2A/3A- Amendment to FORM GST RET-01/02/03
Author Bio
Hi, you have inter changed GST RET 02 and 03.
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. Below is the link
https://tutorial.gst.gov.in/offlineutilities/returns/NewGSTReturn_Sahaj.pdf
Than it is better to go for monthly return