Yes, there will be no more GSTR-1 and GSTR-3B for GST registration! Get ready to file your GST returns with the new GST forms.
The 3 FORMS which replaces GSTR-1, GSTR-2 and GSTR-3B are:
✔ 1 main GST return (GST RET-1) and
✔ 2 annexures ( GST ANX-1 & GST ANX-2).
For the next 3 months (July to Sept, 2019), taxpayers must practise filing GST returns using ANX-1 & ANX-2 to become familiar with it. You can,
- Upload invoices using ANX-1.
- View and download, the purchase details using the ANX-2.
- View the summary of inward supply invoices on the common portal online.
- Import purchase register and compare it with the downloaded inward supply invoices to find mismatches from August 2019.
In this period (July to Sept, 2019), you should continue filing GSTR-1 and GSTR-3B. Otherwise, you will have to pay a penalty.
From Oct, 2019 onwards,
- ANX-1 shall be compulsory &
- GSTR-1 would be replaced by ANX-1.
From Jan, 2020 onwards,
- GST RET-01 shall be compulsory &
- GSTR-3B would be replaced by GST RET-01
If your turnover is <= Rs 5 cr
✔ You need to file ANX-1 in Jan, 2020 for the quarter Oct-Dec, 2019.
✔ ANX-2 can be viewed-only during this period. You can’t make changes to it.
✔ You should stop filing GSTR-3B & start filing PMT-08 from Oct, 2019 onwards.
If your turnover is > Rs 5 cr
✔ You need to upload your monthly ANX-1 from Oct, 2019 onwards.
✔ But for Oct and Nov, 2019, you should continue to file FORM GSTR-3B on monthly basis.
✔ You should start filing GST RET-01 for the month of Dec, 2019 by 20th Jan, 2020.
Source: The Economic Times
What do you think about this NEW return filing process? Please comment below.
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