Preparing for the new GST Returns: The Ultimate Guide

The new returns, which are supposed to be simplified, if followed in complete sense, can actually decrease the compliance processes. With real time invoice matching and monthly reconciliations, it will not only make compliance easier but would also boost tax revenues.

Share
Input Tax Credit Break-up of GST RET 1 – Table 4 Explained

Return RET-1 has a total of 9 tables, out of which in this article we will focus on table 4 in detail. Kindly note table 3 is already detailed in our previous articles GST Form RET 3.

Share
SUGAM (RET-3): Quarterly Return for B2B+B2C Transactions

Sugam, which is also known as RET-3, is a newly introduced simplified return for small taxpayers. Small tax payers may opt to file Sugam on quarterly basis.

Share
GST New Return Offline Tool (Beta) v0.3 – released on GSTN

With an aim to help taxpayers with the New Simplified Return System, a new beta version of the Offline Return Tool has been released on the GSTN portal.

Share
GST Form RET-1: How to file Table 5 to Table 8

The GST Council has introduced new return filing system in order to simplify the filing process. This system is currently postponed until October 2020.

Share
SAHAJ (RET-2): Quarterly Return for B2C Transactions

Taxpayer having turnover upto Rs. 5 Cr in previous financial year, involved in B2C Supplies (supplies to unregistered persons and consumers) and Inward supplies attracting reverse charge only may opt to file Sahaj return on quarterly basis.

Share
FORM GST ANX-1 –How to Prepare Annexure Of Inward and Outward Supplies?

The annexure to the simplified form GST Ret1, Anx 1 allows a regular invoice-wise detail upload in the respective sections except in case of B2C Outward supplies, Inward RCM and Import of Services, wherein the taxpayer can upload aggregate details for the same.

Share
Provisional ITC as per New Simplified GST Returns

In New Returns Table 4A.10 Provisional input tax credit on documents not uploaded by the suppliers [net of ineligible credit] gives the provision to the purchaser to take ITC on provisional basis.

Share
Exploring Simplified GST Returns – Taxpayer’s Profile

Simplified GST Returns is expected to simplify indirect taxation for the taxpayers, and provide a boost to the economy in India.

Share
5 Key Changes in New Simplified Returns

Under the Simplified Returns regime, a taxpayers may notice the below-given 5 key changes in the return filing system

Share
GST ANX-2 Vs GSTR2 – Simplified GST Return

October 2019 is going to be a crucial month for GST Taxpayers. The new simplified GST return system will be taking up on the current GST Returns system. As per

Share
How to Fill GST ANX-1: Simplified GST Returns

The new – simplified GST return system is expected to be introduced, mandatorily, onto the current GST Returns system of India in the month of October, 2019. As per the

Share