New GST Returns w. e. f. April 1, 2019

Posted by CAONWEB on April 4th, 2019

According to the decision by the GST Council, the GST filing of new GST returns would be implemented on a pilot basis from April 1, 2019, and will be made mandatory from July 1, 2019. As the new returns would be run on a pilot basis, the GST filing of existing return formats (i.e. GSTR-3B) will be continued to be filed for the quarter 1 of Financial Year 2019-20.

The periodicity of online GST return filing of new returns and their types:

  • The periodicity of the online GST return filing will be monthly by default. Change in the periodicity of the online GST return filing from monthly to quarterly and vice versa will be allowed only once at the time of filing of the first return. If once chosen periodicity of the online GST return filing then it cannot be changed for rest of the financial year and can be changed only at the time of filing of first return of the next financial year.
  • Three types of new returns for GST filing are:

Normal (Monthly or quarterly)

Sugam (Quarterly)

Sahaj (Quarterly)

  • Taxpayers having aggregate turnover up to Rs.5crores during the preceding financial year has the option to file the return on a quarterly basis either in ‘SAHAJ’ or ‘SUGAM’.
  • Taxpayers making only B2C supplies can file ‘SAHAJ’ returns on a quarterly basis. And, taxpayers making B2B supplies or making B2C and B2B supplies, but having a turnover of Rs.5crores or less, have been given an option to file ‘SUGAM’ Returns on a quarterly basis.
  • The GST filing of quarterly returns will mostly be similar to the monthly returns, but require lesser information to be filled as compared to the regular returns. And, the taxes have to be self-assessed and paid on a monthly basis even for taxpayers opting for the quarterly return scheme.
  • The monthly returns are compulsory to be filed for taxpayers having a turnover above Rs.5crores. Their return too has been simplified and now contain only two main tables – One to report outward supplies and another for availing ITC based on invoices uploaded by the supplier.

Payment of self-assessed tax:

  • The taxpayers need to make payment of tax on a monthly basis even though they have opted for quarterly online GST return filing.
  • Payment of tax shall be made by 20th of the month succeeding the month to which the liability pertains.
  • Payment of tax shall be made for the first two months of the quarter.
  • The credit of the tax paid during the first two months of the quarter shall be available at the time of filing the return for the quarter. While filing the quarterly return and feeding the output details and input details of the quarter the total tax calculated shall be reduced by the amount so deposited for the first two months of the quarter and the balance tax shall be payable.

For any queries and services relating to GST registration and GST filing, you can contact professionals through CAONWEB.

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Joined: April 2nd, 2019
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