New GST Return types and its applicability
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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
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Taxpayer is making supplies only to consumers, (B2C) or/and
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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
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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
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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
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Taxpayer is making outward supplies to registered persons (B2B) & supplies to consumers, (B2C) and
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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
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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
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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
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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 |
Pay tax and file return on
monthly basis in Form GST RET-1 |
Monthly
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Form GST RET-1
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