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.
Simplified GST Returns is expected to simplify indirect taxation for the taxpayers, and provide a boost to the economy in India.
As per the transition plan for simplified GST Returns released by the CBIC will witness following updates in the current GST return filing system:
The CBIC has finally released the road map for Simplified GST returns implementation to ease the transition process.
The New Returns – GST Sahaj and GST Sugam were expected to be implemented from April 1, 2019, however, in the absence of a proper system required for the transition
The pilot for New Returns- Sahaj and Sugam, was to start from April 1, 2019 and the mandatory filing to start from July 2019.
New Tax Forms under GST | Penalties and Confiscation for Non Generation of EWB | GST Updates effective April 1, 2019 | IRIS Sapphire - Releases
CBIC has released their transition plan for these return forms, until then here is everything you should know about New return forms.
