New GST Return types and applicability

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New GST Return types and its applicability 


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

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