New Returns

NEW GST RETURNS

As per 37th GST Council meetings, New return system now to be introduced from April, 2020 (earlier proposed from October, 2019), in order to give ample opportunity to taxpayers as well as the system to adapt and accordingly specifying the due date for furnishing of return in FORM GSTR-3B and details of outward supplies in FORM GSTR-1 for the period October, 2019 - March, 2020.

GSTIN released FAQ related to the new returns:

1. What are the various Return Types?

Return Type	When is it Selected?	What are you supposed to do?	Return Frequency	Return Forms
SAHAJ	Aggregate turnover during preceding financial year is up to Rs. 5.00 Cr AND Taxpayer is making supplies only to consumers, (B2C) or/and Have inward supplies on which tax is payable on reverse charge basis (RCM)	Pay tax liabilities on Monthly basis for first two months of each quarter through Form GST PMT-08, and in the third month, the taxpayer can pay tax and file RET-2 Furnish outward supplies details on continuous basis File return on quarterly basis in Form GST RET-2 Note: You cannot claim provisional ITC on missing invoices	Quarterly	Form GST RET-2
SUGAM	Aggregate turnover during the preceding financial year is up to Rs. 5.00 Cr and Taxpayer is making outward supplies to registered persons (B2B) & supplies to consumers, (B2C) and Have inward supplies on which tax is payable on reverse charge basis (RCM)	Pay tax liabilities on Monthly basis for first two months of each quarter through Form GST PMT-08, and in the third month, the taxpayer can pay tax and file RET-3 Furnish outward supplies details on continuous basis File return on quarterly basis in Form GST RET-3 Note: You cannot claim provisional ITC on Missing invoices	Quarterly	Form GST RET-3
QUARTERLY (NORMAL)	Aggregate turnover during the preceding financial year is up to Rs. 5.00 Cr and Taxpayer is making all kinds of supplies, including reverse charge supplies	Pay tax liabilities on monthly basis for first two months of each quarter through Form GST PMT-08, and in the third month, the taxpayer can pay tax and file RET-1 File return on quarterly basis in Form GST RET-1	Quarterly	Form GST RET-1
MONTHLY (NORMAL)	Aggregate turnover during the preceding financial year is greater than Rs. 5.00 Cr and Taxpayer is making all kinds of supplies, including reverse charge supplies	Pay tax and file return on monthly basis in Form GST RET-1	Monthly	Form GST RET-1

2. What is the Return Frequency?

The taxpayer can file their returns either monthly or quarterly basis in the New Return regime.

Taxpayer whose aggregate turnover is more than Rs. 5 crores in the preceding financial year may file the monthly return.

Taxpayer whose aggregate turnover is up to Rs. 5 crores in the preceding financial year have option to file return on the quarterly or monthly basis.

The frequency of filing returns may be changed by the taxpayer from monthly to quarterly or vice versa by exercising this option.

3. How can I change the Return Frequency?

To change return frequency, navigate to Returns > Manage Return Profile (Trial) > Change Return Frequency.

4. What is the Return Type?

If the return frequency is selected as quarterly, then the taxpayer can change the return type as either Quarterly (Normal), Sahaj or Sugam, based on the types of their transactions. Taxpayer whose aggregate turnover was more than Rs. 5 crores, in the preceding financial year, has to file Monthly (Normal) return.

5. How can I change the Return Type?

To change return frequency, navigate to Returns > Manage Return Profile (Trial) > Change Return Type.

Source: https://tutorial.gst.gov.in/userguide/newreturns/index.htm#t=returns_dashboard_faq.htm