GST Council has decided to make changes in Return filing process in its GST Council Meeting on and decided to replace GSTR3B and GSTR1 forms with New GST forms SAHAJ, SUGAM, QUARTERLY, MONTHLY FORMS,
Here we will discuss complete details about these forms like
- What are the new GST forms and which Return form to be chosen by which business,
- When are they likely to be introduced,
- What is new GST payment declaration form and
- How is new GST Forms and procedure different from existing procedures.
You can also download copy of these forms in PDF and excel for reference
What are New GST Return Forms?
Currently GSTR3B and GSTR1 are to be filed by taxpayers
This will be soon replaced by 4 New GST Forms
- GST Sahaj Form
- GST Sugam Form
- GST Monthly Return
- GST Quarterly Return
These forms will have full details of Output, Input and Payable unlike existing forms
Whether Returns to be Filed Monthly or Quarterly
Those having turnover more than 5 Crores have to file Monthly Returns
However, those having turnover upto 5 crores can chose Monthly or Quarterly Returns
Note:-Last year turnover is to be taken .However for new business, likely turnover of current year is to be taken to determine whether turnover is monthly or quarterly
Which Scheme to be chosen and Which form to be filled ?
If Turnover more than 5 crores,
it is compulsory to select GST Monthly Return Form
If Turnover upto 5 Crores, there are 3 options
1. Business have only Retail Sales (Sales to Unregistered Persons)
- He should select Sahaj Return Form
- Example Restaurants and Retail Shops
2. Business have sale to Registered Persons also (B2B Sales)
- He should select Sugam Return Form
- Examples Wholesalers, Distributors and Factories Selling In India
3. Business have Export Sales Also or Sales to Special Economic Zone
- He should Select Quarterly Return Form
- Example Small Exporters or those selling to Special Economic Zone
When will this new return scheme SAHAJ and SUGAM Forms be introduced
View AnswerIt is likely to be introduced by 1 January 2019
However, trial will start from 1 December 2018
Till then Normal GST Forms (GSTR1 and GSTR3B) will continue
What is GST Sahaj Return Form?
View AnswerThis is for those business making only B2C Sales (Business to Consumer Sales)
In these case, only total Sales amount will be mentioned (Separate for Different HSN Codes)
Also it will have details of Reverse Charge Purchases and ITC on Normal Purchases
Download GST Sahaj Form
What is GST Sugam Form?
View AnswerThis is for those business who are making B2B Sales (Sales to Registered Persons
It will also cover business having both B2B and B2C Sales
In this case,bill vise details of Sales to Registered Persons will have to be provided just like GSTR1
Also it will have details of Reverse Charge Purchases and ITC on Normal Purchases
What is Quarterly GST Return?
View AnswerIt is to be filed by those having other types of Sales also like
- Export Sales
- SEZ Sales
- Deemed Export Sales
This return is similar to Monthly Returns, however it does not have details like
- Missing Invoice
- Pending Invoice
- Nil Rated Goods
- Exempted Gods
Download GST Quarterly Form
What is Monthly GST Return Form?
View AnswerThese have to be filed by those business having turnover more than 5 crores
Also those having turnover upto 5 Crores but have chosen the monthly opton have to file this return
It contains all the details like
All types of Sales
- Missing Invoice, Pending Invoice
- Nil Rated, Exempted and Non GST Goods
Details of B2B Sales will be put in annexure of this return
What is New GST Payment Procedure in GST-Payment Declaration Form?
View AnswerThose business who are filing returns quarterly have to still pay tax on Monthly Basis
For paying this tax, there will be new format of Challan called GST Payment Declaration Form
This Payment Declaration Form will be like a mini return having having details of Output,Input and Payable
Figures of Input will come from B2B Sales of Other Parties uploaded on GST portal
This will be used in the first 2 months of quarter
In case, less tax paid, interest will also be applicable at 18%
Currently, Challan is to be paid mentioning only GST Payable figures(Output - Input)
In future, Payment Declaration Form will be like mini return having details of Output, Input and Payable
What is the Procedure for Upload,Lock and Pay?
View AnswerSuppose P make Sales to Q
In this case, P will upload his Sales mentioning Q’s GST Number
Q will check his return,if amount is matching he will lock it
On locking, Q can take input and use it to adjust his output and Pay balance
If not matching, he can reject it and modify it
In case it is not locked, it will be automatically treated as locked
What is the due date by which Invoices to be Locked?
View AnswerInvoice of One Month shall be uploaded by Seller by 10 th of Next month
Only then buyer will get input for that month
If uploaded late, buyer will get input next month
Example
P make Sales to Q in January 2019
This Invoice for Jan 2019 shall be uploaded by P by 10 th of Feb 2019
Only then Q can take input in January Return
If P uploads sales after 10 January, Q will get input in next month
(i.e February Return)
However,P will have have to pay Output in January return in both cases
SUMMARY
|
CURRENTLY |
IN FUTURE |
|
Separate Returns for Sales, Purchase and Payable |
Common Returns for Sales and Purchase |
|
GSTR3B Return and GSTR1 to be filed Remaining Suspended |
Saral and Sugam Returns to be filed |
|
Quarterly Returns if turnover upto 1.5 Crore |
Quarterly Returns if turnover upto 5 Crore |
|
B2B Invoice Details to be uploaded in GSTR1 Monthly Or Quarterly Depending upon turnover |
B2B Invoice Details to be uploaded in Annexure to Return Monthly |
|
Easy challan Format containing details of GST Payable only No Payment Declaration Forms
|
Payment Declaration Form in First 2 Months of Quarter containing details of Output Input Payable
It is to be called Payment Declaration Form |
|
Returns cannot be revised .Amendment to be made in next month return |
Returns can be amended 2 times maximum |
You can practice these existing GST Return Forms at our
Get GST Practical Training by CA Maninder Singh - Register now
Download the full GST Return Formats with Annexures as provided by the government
