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Saturday, August 10, 2019

when gst new return will be applicable?

In order to give the opportunity to taxpayers as well as the system to adapt, the new system to be introduced in a phased manner as described below.

1. Between July 2019 to September 2019, the new return system (form GST ANX-1 FORM GST ANX-2 onlyto be available for trial for taxpayers. Taxpayers to continue to file FORM GSTR &FORM GSTRB as the present.

2. Form October 2019 to onwards,  FORM GST ANX 1  to be made compulsory. Large taxpayers( having aggregate turnover more than 5 cr. in the previous year) to file FORM GSTANX-1  on a monthly basis whereas small taxpayers to file first  FORM GST ANX-1  for the quarter October 2019 to December 2019 in January 2020.

3. For October and November 2019 Large Taxpayers to continue to file FORM GSTR-3B  on monthly basis and will file first  FORM GST RET-01  for December 2019 in January 2020 it may be noted that invoices etc. can be uploaded in FORM GST ANX-1  on a continuous basis both by Large and small taxpayers from October 2019 onwards. FORM GST ANX-2  may be viewed simultaneously during this period but no action shall be allowed on such  FORM GST ANX-2.

4.  From October 2019 small taxpayers to stop filing FROM GSTR 3B  and to start filing FROM GST PMT-08.  They will file their first FORM GST-RET01
 for the quarter of October 2019 to December 2019 in January 2020.

5. From January 2020 onwards FORM GSTR 3B  to be completely phased out.

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