All About New GST Return

  • The 35th council meeting unveiled the new goods and services tax (GST) return forms and place a transition mechanism which allows taxpayers to try the new return filing forms during July-September, but it will become mandatory only from October.
  • The new return as been simplified by the government and the draft of the same has also been released along with some offline utilities.
  • Here is everything you need to know about the new monthly GST return filing mechanism:
  • New GST Return Due Date Applicability for Taxpayers Filing in Table
Month Form to be Filed Current Form Filing Turnover Limit
October 2019
January 2020  
GST ANX-1 GST RET 1 GSTR 1 GSTR 3B More Than 5 Crore
More Than 5 Crore
January 2020 GST ANX-1 GSTR 1 Up to 5 Crore
January 2020 GST RET 1 GSTR 3B Up to 5 Crore
October 2019 GST PMT 08 GSTR 3B Up to 5 Crore
  • Here turnover means  the turnover of previous fiscal year.
  • Now if your turnover is below Rs.5 crore and you choose to file return quarterly you have 3 options:-
  • (i) Sahaj
  • (ii) Sugam
  • (iii)Normal RET-01(It can be filed either monthly or Quarterly)

Here is the brief of all the New forms.

  • Form GST ANX-1  – Form GST ANX-1 contains the details of outward supplies, imports, and inward supplies attracting a reverse charge.
  • Form GST ANX-2- Based on GST ANX-1, filed by all, businesses will be able to download details of auto-drafted inward supplies in GST ANX-2. The trade will be required to accept, reject or keep in pending the ITC on inward supplies.
  • Form GST RET-01- After uploading details of supplies in FORM GST ANX-1 and taking action on the documents auto-populated in FORM GST ANX-2, the taxpayer shall file the main return in FORM GST RET-1.  Information declared through FORM GST ANX-1 and FORM GST ANX-2 shall be auto populated in the main return (FORM GST RET – 1).Other than auto populated there are some more information which needs to be filled.
  • Form GST ANX 1 A- This form is to be filed for making amendments in form GST ANX-1
  • Form GST RET 1 A- The taxpayer has to file this form for making amendments in the form GST RET-1.
  • From January 2020 onwards, all businesses would shift to new return filing system with entities above Rs 5 crore turnover filing GST RET-1, GST ANX-1 and GST ANX-2. Those with turnover below Rs 5 crore in the previous financial year would have to file GST PMT-08, GST RET-01, GST ANX-1 & 2.

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