CBIC Publishes New GST Return Formats on gst.gov.in

CBIC has published new proposed GST Return forms on GST official portal i.e. gst.gov.in. There are total of three forms have been published. These forms are only formats now not implemented right now.

gst return new format

1. Periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the returnis 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 allowedonly once at the time of filing thefirst returnby 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 outwardsupply 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 notbeallowed to make any other type of inward or outward supplies. However, such taxpayers may make Nil rated, exempted or Non-GST supplies which neednotbe declared in thesaidreturn.

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 make 3Nil rated, exempted or Non-GST supplies which need not be declared insaid return.

10. Taxpayers opting to file monthly return or Quarterly (Normal)returnshall be able to declare all typesof outward supplies, inward supplies and take credit on missing invoices.

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