New GST Return types and applicability
New GST Return types and its applicability
Return Type
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When is it Selected?
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What are you supposed to do?
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Return Frequency
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Return Forms
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SAHAJ
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·
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
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Quarterly
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Form GST RET-2
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SUGAM
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·
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
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Quarterly
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Form GST RET-3
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QUARTERLY (NORMAL)
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·
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
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Quarterly
|
Form GST RET-1
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MONTHLY
(NORMAL)
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·
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
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Pay tax and file return on
monthly basis in Form GST RET-1
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Monthly
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Form GST RET-1
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