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GST Network on Wednesday released a demo tool for the new and simplified return filing form, which will be launched sometime later in the year.
The prototype available on webportal https://demoofflinetool.gst.gov.in/instructions gives stakeholders a feel of what the new return filing system will look like. GSTN has also sought stakeholder feedback on the proposed offline tool.
It will allow users to use functionality such as drop-down menus, invoice upload and upload of purchase register for matching with system created inward supplies.
In the proposed system of new GST return filing, a normal taxpayer would have to file form GST RET-1 (Normal), Form GST RET-2 (Sahaj) or Form GST RET-3 (Sugam) on either monthly or quarterly basis.
An annexure of supplies (GST ANX-1) and an annexure of inward supplies (GST ANX-2) would be filed as part of these returns. All the outward supplies would be detailed in GST ANX-1, while GST ANX-2 would contain details of inward supplies auto-populated mainly from the suppliers’ GST ANX-1.
Suppliers would have to file a detailed return in form GST RET-1.
Businesses which make supplies to consumers (B2C) would have to file return form ‘Sahaj’ It includes details of outward supplies and inward supplies, attracting reverse charge as well as summary of inward supplies for claiming input tax credit (ITC).
Besides, businesses making supplies to both businesses (B2B) and consumers (B2C) would have to file returns form ‘Sugam’. It includes a summary of supplies made and tax liability, summary of inward supplies for claiming ITC, along with details of interest due and tax payment.
Stakeholders can share their comments on ‘feedback.newreturn@gstn.org.in’, said GSTN, the company which handles the technology backbone of the Goods and Services Tax (GST) regime.
The new return filing format would replace the current requirement of filing final sales return GSTR-1; and summary sales return GSTR-3B.
The GST Council in July last year decided that the simplified GST return forms -- Sahaj and Sugam -- would be rolled out on a pilot basis from April 1, 2019, while mandatory filing across the country would kick in from July. However, the pilot project was deferred as the systems were not finalised.
EY India Tax Partner, Abhishek Jain said, with this prototype being released, implementation of the new simplified returns is expected to become a reality soon.
“The companies would now need to ensure appropriate modifications are executed to their ERPs, business processes, etc, for culling out information to be disclosed and eligibility of input tax credits.”
AMRG & Associates Partner Rajat Mohan said “users and developers are expected to use the interactive tool and give feedback on the prototype, allowing users to use various functionalities, including uploading of invoices and purchase registers”.
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