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New returns

arvind kumar (69 Points)

31 December 2019

what are the new returns and their frequencies?

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Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 01 January 2020

The New Returns Format is : One Main returns filed Qtly or Monthly with 2 Annexure ,ie Annexure 1 & Annexure 2.

Turnover less then 5Crore in previous Fy can file Qtly & Above 5 crore need to file Monthly

The Main 3 returns are :
1. Normal
2.Sahaj
3.Sugam

Normal Return :
The monthly filer need to file Normal & the taxpayer whose turnover is above 5 crore can opt for only Normal Return.

Note : The Qtly filer can also use Normal Return filing on Qtly basis.

Sahaj Return :
The Taxpayer whose turnover is up to 6 crore can opt this return & who deals only Supplies B2C.

Sugam Return :
The Taxpayer whose turnover is up to 6 crore can opt this return & who deals in Supplies B2C & B2B.

Annexures

The ANX-1 and ANX-2 will have to be processed every month irrespective of the reporting period (monthly or quarterly).

Annexure 1 is for Outward supply & Annexure 2 is available to Recepeint on the basis of Annexure 1 uploaded by Supplier.