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:
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
If your turnover is > Rs 5 cr
Source: The Economic Times
What do you think about this NEW return filing process? Please comment below.
Stay updated about the Latest GST News on Vyaparapp.in.
Download the BEST GST Compliant Business Accounting App
Happy Vyaparing!!!