Implementation of new GST Return formats was finalized in the 31st GST Council meeting and earlier it was decided to implement the same from April 2019 onward on a trial basis and from July 2019 onwards on a compulsory basis. However, New GST Return implementation could not be made in such a manner.
New GST Return Implementation
Ministry of Finance has shared a transitional plan for implementation of such new GST return formats in a phased manner vide press release dated 11th June 2019 which is as follows:
|Month||Phases of New GST Return format implementation|
|May, 2019||A prototype of the offline tool of the new return format has been shared which looks the same as the proposed online portal. The new return will have 3 components-Main Return-Form GST RET-1 and Two annexures (GST ANX-1 and GST ANX-2)|
|July, 2019||Uploading of the invoice using GST ANX-1 offline tool will start on trial basis. Users will be able to view and download inward supply of invoices using GST ANX-2 offline tool. Summary of Inward supply will also be available for view on online portal|
|August, 2019||Facility to import purchase register in offline tool and matching of same with downloaded inward supply invoices will also be available to trace mismatches.|
|July-September, 2019||New GST return format in ANX-1 and ANX-2 will be available on trial basis. Such trail will have no impact on tax liability and tax credit of taxpayers.Taxpayer will be continue to file GSTR-3B and GSTR-1 in similar way.|
|October-December, 2019||Large Taxpayers: |
1. GST ANX-1 shall be made compulsory from October, 2019.
2. GSTR-1 will get replaced by GST ANX-1
3. Large Taxpayers* will file GST ANX-1 on monthly basis compulsorily from October, 2019.
4. Large Taxpayer will continue to file their GSTR-3B on monthly basis for the month of October and November, 2019.
5. GST RET-01 of large taxpayers will become compulsory from December, 2019. It should be filed by its due date of 20th January, 2020
1. Small Taxpayers** will file GST ANX-1 on quarterly basis for the quarter of October-December 2019 by the due date which fall in January, 2020.
2. Small taxpayer will stop filing FORM GSTR-3B from October, 2019. Instead they will start filing GST PMT-8 from October, 2019.
3. GST RET-01 for the quarter of October-December, 2019 will be filed by due date of 20th January, 2020.
1. Invoices can be uploaded in GST ANX-1 on continuous basis by both small and large taxpayers.
2. GST ANX-2 can be viewed from October, 2019 onwards. However, action on same will not be allowed
|January, 2020||All Taxpayers will be required to file GST RET-01.GSTR-3B will be completely phased out.|
Transition plan can be understand with the help of below chart.
Want to know more about new GST return formats, read our post GST Returns | Normal | Sahaj | Sugam | All about New GST Returns
*Large Taxpayers– those taxpayers whose aggregate annual turnover in the previous financial year was more than Rs. 5 Crore
**Small Taxpayers- those taxpayers whose aggregate annual turnover in the previous financial year was upto Rs. 5 Crore