GST New Return Advisory on new returns forms to be made mandatory in phased manner

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GST New Return Advisory on new returns forms to be made mandatory in phased manner

GST New Return Advisory – 11.06.2019

CBIC has issued a press release stating that new returns is going to be made mandatory in phased manner as under:

  1. For Taxpayers with Turnover > INR 5 crores:
  1. Return in Form GSTR-3B Is required to be filed till Nov, 2019. The First New Return in Form GST RET-1 will be filed for the monthly tax period ending in Dec, 2019 which will due in January, 2020
  1. Return in Form GSTR-1 is required to be filed till Sept, 2019 and then the same shall be *replaced* by a New Return GST ANX-1 for the months ending Oct, 2019 and Nov, 2019*.

_Note – Dec, 2019 on-wards, GSTR-3B and GSTR-1 will be combined in New Return GST RET-1 and the taxpayer is only required to file the same._

  1. For Taxpayers with Turnover < = INR 5 crores:
  1. Return in GSTR-3B and GSTR-1 is required to be filed till Sept, 2019. The First New Return in GST RET-1 will be filed for the quarterly tax period ending in Dec, 2019 which will due in January, 2020

_Note – However, Taxpayer will start paying monthly tax by filing GST PMT-08 from tax period of Oct, 2019 on-wards_ as the payment is to be discharged on monthly basis.

To Summarise :

Large Taxpayers (Turnover > INR 5 crores)

## GSTR 3B (Till Nov, 2019), GSTR-1 (Till Sep, 2019), GST ANX-1 (Oct, 2019 and Nov, 2019) and then from Dec, 2019, Only GST RET-1 shall be filed.

Small Taxpayers (Turnover < = INR 5 crores)

## GSTR-3B and GSTR-1 (Till Sep, 2019), GST PMT-08 (every month w.e.f. Oct, 2019 for payment of tax) and *GST RET-1 w.e.f. quarter ended Dec, 2019

_Note – From January, 2020, GSTR-3B and GSTR-1 will be completely replaced with GST RET-1 and GST PMT-08._

 

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