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.
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.
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.