New GST Return Forms Trial Version

How to select new GST Return Form

Instruction available on the portal

SAHAJ

Sahaj return may be selected if

  • Aggregate turnover during the preceding financial year upto Rs. 5.00 Cr AND
  • Make supplies only to consumers, registered persons and unregistered persons (B2C) OR
  • Have inward supplies on which tax is payable on reverse charge basis (RCM)

You will be required to:

  • Pay tax liabilities on Monthly basis in form GST PMT-08.
  • Furnish outward supplies details on continuous basis and cannot claim provisional ITC on Missing invoices.
  • File Return on Quarterly basis in GST RET-2.

SUGAM

Sugam return may be selected if

  • Aggregate turnover during the preceding financial year upto Rs. 5.00 Cr.
  • Make additional outward supplies apart to consumers, unregistered persons and registered persons.
  • Have additional inward supplies apart form registered and unregistered persons (including reverse charge).

You will be required to:

  • Pay tax liabilities on Monthly basis in form GST PMT-08.
  • Furnish outward supplies details on continuous basis and cannot claim provisional ITC on Missing invoices.
  • File Return on Quarterly basis in GST RET-3.

QUARTERLY

Quarterly return may be selected if

  • Aggregate turnover during the preceding financial year upto Rs. 5.00 Cr.
  • Make additional outward supplies apart to consumers, unregistered persons and registered persons.
  • Have additional inward supplies apart form registered and unregistered persons (including reverse charge).

You will be required to:

  • Pay tax liabilities on Monthly basis in form GST PMT-08.
  • Furnish outward supplies details on continuous basis and cannot claim provisional ITC on Missing invoices.
  • File Return on Quarterly basis in GST RET-1.

Summary

 


 

SAHAJ

SUGAM

NORMAL

Requirement as per trial return

TAX PAYMENT

Monthly basis in form GST PMT-08

Monthly basis in form GST PMT-08.

Monthly basis in form GST PMT-08

RETURN FORM

GST RET-2

GST RET-3

GST RET-1

ITC CLAIM

cannot claim provisional ITC on Missing invoices

cannot claim provisional ITC on Missing invoices

cannot claim provisional ITC on Missing invoices

OUTWARD UPLOADING

continuous basis

continuous basis

continuous basis

Selection as per trial return

Quarterly selection

turnover during the preceding FY upto Rs. 5.00 Cr

turnover during the preceding FY upto Rs. 5.00 Cr

turnover during the preceding FY upto Rs. 5.00 Cr

 

Make supplies only to consumers, registered persons and unregistered persons (B2C)

Make additional outward supplies apart to consumers, unregistered persons and registered persons

Make additional outward supplies apart to consumers, unregistered persons and registered persons

 

Have inward supplies on which tax is payable on reverse charge basis (RCM)

Have additional inward supplies apart form registered and unregistered persons (including reverse charge)

Have additional inward supplies apart form registered and unregistered persons (including reverse charge)

Points to be noted

As per proposed return docs

outward supply under B2C category and inward supplies attracting reverse charge only.

outward supply under B2C and B2B category and inward supplies attracting reverse charge only

all types of outward supplies, inward supplies and take credit on missing invoices.

Our Views:

In Sahaj, only B2C sale can be reported. Hence it will be suitable for composition dealers.

In Sugam, B2B & B2C both can be reported but ITC has to be claimed on auto populated basis. You can add new inward supply bills if your vendor has not filed return. Hence it will less popular return. May be suitable for those in service industry not having inward supply or trading/manufacturing entity whose inward supply are from unregistered dealer only. But These category may be very little.

In Normal Return, You can add all types of sales. Most important: Missing inward supply bills can be added and provisional credit can be claimed on it. Hence most of the dealer will prefer Normal Return.

Those who select quarterly return may note that tax has to be paid on monthly basis in PMT-08. Details of Tax on outward supply, Tax on inward RCM, and ITC claimed need to be reported in PMT-08.

If you need not to pay tax even though you have to file a declaration on monthly basis.

Leave a Reply