Annexure I and II New GST Returns

ADVANATAGES OF NEW GST RETURNS • Removal of Multiple Returns i.e. GSTR-1, GSTR-3B • Semi-automated single return filing enabled by annexures. • Principle of “UPLOAD-LOCK-PAY” for most Tax payers. • Tax Payers can choose the Return based on profile. • Profile – Information available and Detailed to be filled. • NIL Return filers – Return Filing by SMS. • Amendment Return – Payment will be allowed with interest. • Periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for. • The Tax Payers opting to file Quarterly Return can choose to file any of the Quarterly return namely – Sahaj / Sugam / Normal • For newly registered persons, • Turnover will be considered as zero • They will have the option to file monthly, Sahaj, Sugam or Normal return. • Cut-off date – 10th of the following month. • No separate tables for CREDIT NOTE / DEBIT NOTE • Not to File GST ANX-1– Upload • Reflection on Real Time basis • Interest and Late Fee • Applicable for documents for earlier period • Documents for the period – delay beyond due date • Interest – declare and pay in return • No separate late fee for Form GST ANX-1