What is new gst return
jaheer hussain (577 Points)
26 October 2019
tell what about new GST RETURNS what is different old and new please tell me
3 Replies
Surjeet Negi
(947 Points)
Replied 26 October 2019
New Return formats are more towards two way free flow or matching of tax credit .
Arunkumar AK
(48 Points)
Replied 27 October 2019
Way of filing the returns and paying taxes differs between the two that's all
subhagan sreerangam
(7054 Points)
Replied 27 October 2019
In the new return system GST ANX-1 should be filled for supply and declaring tax liability included ,imports are also reported in GST ANX-1 and ITC autopopulate in GST RET-1.In the new return system taxpayers are categorised in to large taxpayer ( Whose annual turnover is more than ₹5 crore) and small taxpayers ( Whose annual turnover.is upto ₹5 crore).A large taxpayers to file monthly GST ANX-1,where as small taxpayers can file his GST ANX-1 monthly or quarterly at his opinion.
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