The pilot project envisaged for rolling out simplified monthly GST return forms from April 1 has been deferred and the new forms would be made available once they are notified and the software is ready.
The Central Board of Indirect Taxes and Customs (CBIC) had come out with the draft GST return forms in July last year and sought comments from stakeholders. Under the new return filing format, taxpayers who have no purchases, no output tax liability and no input tax credit in any quarter of the financial year would have to file one ‘nil’ return for the entire quarter. Facility for filing quarterly returns shall also be available via SMS. The new format would replace the current requirement of filing return GSTR-1, but GSTR-3B would continue for some time.
Small taxpayers, with turnover of up to Rs 5 crore in the last financial year, can file quarterly return with monthly payment of taxes on self-declaration basis.The return form ‘Sahaj’ is for businesses that make supplies to only consumers (B2C). It includes details of outward supplies and inward supplies attracting reverse charge as well as summary of inward supplies for claiming input tax credit.
